The housing market needs more homes. They are plenty of buyers but not enough houses for sale. That leads to higher prices and more competition for available listings. Fortunately, though, new home construction is expected to increase this year and, according to newly released numbers from the U.S. Census Bureau and the Department of Housing and Urban Development, it already has.
New Construction Increase
Their February new residential construction report shows the number of homes that began construction during the month was 22 percent higher than last year. Additionally, the number of single-family homes that completed construction was 12 percent higher than the month before. That’s good news for the market and potential home buyers, as new home construction is the quickest solution to the market’s inventory problem. If the trend continues, and more new homes become available for sale, it’ll help relieve upward pressure on home prices and give buyers more options when shopping for a home to buy. Click on the link for more information.
Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!