do you have data on new home construction trends?

Cdacablegirl
Other/Just Looking
Coeur D Alene, ID

Answers (2)
Christina Ethri...
Agent
83814

Not sure if these are the trends you are looking for, but here something:

* Nationally, new home construction makes up less than 12% of all home sales.
* In Kootenai County, it was at 32% for quite a while.
* Recently, Kootenai County's new construction sales are down to 27% of all home sales and *appear* to be decreasing.

This is actually very good news for home owners because right now, competition is new construction, REO's and short sales. With new home sales decreasing, it allows resales to increase. New construction has been keeping resales prices suppressed, in other words - if you want to sell a home you've lived in, you'd have to price it BELOW new construction comparables right now, even though your home is likely to have more upgrades, full landscaping, etc.

However, it's not necessarily good news for everyone... in an economy that is somewhat heavily dependent upon construction jobs, this means more people will either be out of work or looking for work in other locales - either working out of town or moving out of town.

Overall, I firmly believe that a strong decrease in new construction sales will ultimately be much better for our housing economy.

Fri Jul 24 2009, 10:07
Peg Sanborn
Agent
Coeur D Alene, ID
FIRST ANSWER

What tyype of data are you thinking of? The new home construction seems to be picking up, in the lower price ranges. Give me a better idea of what you have in mind. Thanks, Peg Sanborn
Coldwell Banker Schneidmiller 659-1399

Mon Jun 22 2009, 10:03

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