With the 22.6% increase of single-family home construction starts compared to the previous month and year of March, 2015, real estate nationwide has taken a very positive step forward. In addition to a substantial increase in new home starts, there is good and bad news when it comes to new homes being built and put up for sale in the real estate market. The bad news is that builders are finding it difficult to procure land to build new homes, as well as the labor required to start and complete a new home project in a timely manner. On the flip side, that is also good news in that there are now a tremendous amount of construction jobs available for those trained and experienced in the construction industry.
The lack of land and lots to build also increases the new home buyers’ demand across the entire United States, making it so that builders are building new homes “on demand” for prospective homeowners. Now home buyers are waiting on builders to supply new homes to buy whereas just a few years ago, it was builders waiting on home buyers to be able to buy a 1.5 years’ supply of new homes.
Existing home inventory currently in the market is also really tight according to the National Association of Realtors. Right now, existing home inventory is at just a 4.5 month supply – really good news for sellers and Realtors, but not such good news for home buyers. However, existing home sales increased 5.1% in March, despite the dearth of homes available to buy.
If home buyers are in the market for a new home and can afford to wait to be able to build their dream home, they may consider buying a new custom home from local builder Ron Lee Homes in St. Tammany Parish. Custom homes built by this award winning builder are “worth the wait,” and by using Ron Lee Homes, buyers get full-service attention on the new custom home building process. Ron Lee Homes designs floorplans, builds new custom homes, assists with financing, and literally walks home buyers through the home building process from start to finish. So, if you would like to Consult with a Custom Home Builders in West St. Tammany Parish, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.