New Home Sales at All Time Low?

Well, almost. New homes being built, as in from the ground up, such as Ryan and Drees homes and other contracted-out homes being built from scratch, are apparently at a low point right now, assuming they’re even worse than existing homes being sold, which is pretty dismal seeing as though the existing home sales market is dreary as of now as well. But some are saying there is currently a turnaround going on, and our realtor apparently agrees with that sentiment, saying that he has already noticed an upturn in the amounts of activity he has going on for his home listings.

The weather has been partially to blame for this setback, because this winter so far has been extremely mild in the way of temperatures, and now the weather has really turned frigid and snowy in much of the northeast and midwest, making new home construction and things like apartment building construction almost impossible to accomplish.

It might be a really great time to buy a new home right now though. Because of the big slump in new home construction, many builders are offering great incentives to buy homes from them such as free media rooms, finished basements and other upgrades that would normally cost thousands of dollars. Some are even offering special financing deals, which can tally up to thousands and thousands of dollars in savings when the mortgage term is all said and done. It’s something to think about.