Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home
Why We Need More Newly Constructed Homes
The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. Here is a graph showing the percentages:
We need more new construction for two reasons:
It will relieve some of the pent-up buying demand that is causing price appreciation to continue to increase well above historic norms.
It will give better opportunities to many current homeowners who want to sell but can’t find an adequate home to move in to.
Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program homes, investors who flip homes or buy rentals, commercial properties, land sales, lake front properti....
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