I was just up in Canada this weekend participating in the Whistler Gran Fondo Forte cycling event. Whew…incredibly challenging, beautiful, and rewarding all packaged in 6 hours on my
Have You Considered New Construction?
Dated: January 17 2024
Views: 104
Ever caught yourself in a real estate conundrum, itching to sell but caught in the "finding the perfect home" limbo? I totally get it!
Did you know that nearly a third of homes waiting for their new owner are brand spankin' new?
Yep, you read that right!
“Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.”
That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way.
And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“Even more home building will be needed with the housing shortage persisting in most markets . . . Another 30% rise in home construction can easily be absorbed in the marketplace . . .”
We've truly never caught up from the "Great Recession" years where minimal new construction was happening while our population was growing at astromical rates.
Now the Millenials are now of first time home buying age and outnumber the Baby Boom generation by 6-8 fold and viola...we've got an enormous housing need across the United States.
🌆 **Beyond Bellingham:**
But wait, why am I not seeing this around Bellingham? So, our beloved Bellingham might be landlocked, but fear not! The neighboring towns of Ferndale, Lynden, and Blaine are the new construction treasure troves while also providing a little more bang for the buck.
💖 **Personal Touch:** As someone who's personally purchased several new construction homes, let me share a little behind the curtain—there's something magical about starting fresh. New appliances, that delightful "new house" smell, and way less hassle. It's like a hug for your home-owning soul! 🏡💫
New construction does come with added costs to be factored in...window treatments, most often a refrigerator and washer/dryer to name a few. But, some builders are sprinkling in mortgage rate buy-downs and incentives.
📣 **Let's Chat:** Feeling the urge to make moves but hitting roadblocks? Don't fret! Let's have a virtual coffee chat ☕, and I'll go over all the details on the shiny, new possibilities waiting just for you. 🌟
Ready to turn the page to your NextHome adventure? 📖🏠 Let the excitement begin! 🎉✨
Sean Hackney
Sean Hackney: Your Family-Focused Realtor® Specializing in Relocation, Listings, and Buyers in Whatcom and Northern Skagit Counties Greetings! I'm Sean Hackney, a devoted husband, father, and co-....
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