Is the current building of new houses expected to continue through the next year?

Asked by Teddy Ann Morse, Golden Valley, MN Sun Feb 10, 2013

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Maria Cipollone’s answer
Maria Cipoll…, Agent, Coral Springs, FL
Tue Feb 12, 2013
Of course. Increases in new building permits rose 3.6% from December's level and 26.8% compared with November 2011. Those increases have builders feeling good about the US housing market. A survey by the National Association of Home Builders showed last month the highest level of confidence in the market since April 2006.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
0 votes
Rachel Broach, Agent, Alpharetta, GA
Thu Feb 21, 2013
In Atlanta the anwer is a resounding YES! There are numerous builders with inventory on the ground right now and they are selling out fast. We also have several new companies coming to town. Fischer Homes and LGI Homes.
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Donald James, Agent, Edina, MN
Tue Feb 12, 2013
Yes, new home construction will increase for the next couple of years. Home building is cyclical and the new home builders have never quite matched the cycle. New homes get over built (too high an inventory) so the big builders all quit. When inventory of new homes drops really low they start all over again. Most new home builders have a preferred selling period for homes already built. My clients have have gotten so really good deals by purchasing homes that the builder's had in inventory too long. Look for deals like this later this year.
Web Reference:  http://www.mywra.net
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Susan Hoffla…, Agent, Shoreview, MN
Tue Feb 12, 2013
Hi, Teddy!
Well, according to the stats "new home starts" are up in double digits over last year. And, with the major reduction in inventory this year, I suspect new home starts will stay high for quite some time as the entire industry continues to improve. Inventory is low because we are finally slowing down on all of the "lender mediated" properties, so there are more traditional sale properties on the market. That means prices are also on the rise as traditional sales generally garner a higher price than lender mediated properties.

Good luck, Teddy!!
Web Reference:  http://www.homestosellmn.com
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Christopher…, Agent, Bloomington, MN
Mon Feb 11, 2013
It will probably double this year and double again next year. You are in a good spot with a ton of new construction over on the NW side.

The housing shortage we are experiencing right now is not going to change anytime soon. I think new construction will look much different this time around post-housing recession. For starters there is less space to build within the metro, but I also think housing in general is changing. Prices are starting to get in the builders favor which is key, but I think for the next couple years it will be just a steady increase.
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Elizabeth Sa…, , California
Mon Feb 11, 2013
Yes, you will find better and stronger buildings this year comparing to the past. With new laws regarding construction quality, builders are concentrating more on quality, which is a good for buyers.
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Lenny Frolov, Agent, Brooklyn Park, MN
Mon Feb 11, 2013
I would definitely say that new construction will be stronger this year than the past few years and will continue into next year.
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Mark Claesse…, Agent, Anoka, MN
Sun Feb 10, 2013
Stephanie is correct, Teddy. We are having a record number of new construction startups and permits. You wil find this year to be very busy with new construction. There are a lot of buyers and such low inventory. This will make for an interesting year in real estate.
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Stephanie Fox, Agent, Minneapolis, MN
Sun Feb 10, 2013
I think you might see an increase in new home construction as we move into warmer weather. Home prices are rising and the inventory of homes on the market is smaller than it has been for years. People are buying up lots and developers are looking for more land, a good indication of increased home building.
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