This week, we are going to look at the three reasons to sell your house now instead of waiting: demand is strong, supply is low and new construction will soon be your competition. – The KCM Crew
Part III – New Construction Will Soon Be Your Competition
Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. As an example, the National Association of Realtors revealed, relative to last year, year-to-date new home sales are up 19%.
These ‘shiny’ new homes will again become competition as they can be an attractive alternative to many of today’s home purchasers.
Here are the numbers regarding new construction about to come to market from the Census Bureau:
BUILDING PERMITS
- Single-family authorizations in February were at a rate of 600,000.
- This is 25.5% above February 2012.
HOUSING UNDER CONSTRUCTION
- Single-family housing starts in February were at a rate of 618,000.
- This is 18.5% above February 2012.
HOUSING COMPLETIONS
- Single-family housing completions in February were at a rate of 574,000.
- This is 32.9% above February 2012.
As we mentioned, new construction can be strong competition to a seller of an existing home. It may make sense to list your home before this new inventory makes its way to market.
If you are thinking of selling your home contact me for a FREE Current Market Analysis and to learn about our Market Plan to get your home SOLD!
If you are thinking of buying a home in Westport or surrounding areas please visit www.DistinctiveHomes-NE.com for a free list of homes for sale in Westport and Bristol County MA and RI.
We work with one going in mind, YOURS!
Noemi CardosoLocal Office. Local Agents. Local Knowledge.
William Raveis Real Estate
911 Main Rd - Westport MA 02790
Cell: 508-558-1945
www.DistinctiveHomes-NE.com
Noemi@DistinctiveHomes-NE.com
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