That’s one that can get most people’s attention, thinking “What new homes? All I see are foreclosures.” Well that is true, you may still find plenty of foreclosures happening in the market, however, the nice thing about it can there be is an increase in the number of permits being issued for new homes, not simply remodels or additions. Construction workers, residential framers, roofers wipe the take out your hard hats and scrape the rust off your hammers, it’s about time to make contact with work.
The custom home builders are starting to get their numbers more in line with just what the housing marketplace would prefer to pay, no longer new grab trucks or boats, plain and simple traditional get it done attitude. The builders are focused on quality and pricing to be capable of taking on the assembly type builders. The national builders were required to keep building even though we were holding not getting sales only to keep the cash flowing. The Pulte’s, John Wieland Homes along with other production builders did this by cutting their cost of what they paid their suppliers and sub-contractors.
I try to hold with the brand new homes market by talking to owners, purchasing directors, and local construction firms.
• Bonterra Homes- they were written in context as banking officials to start out ramping up for additional production for the third quarter of 2019, we’re going to release more cash for home mortgages throughout the second quarter of 2019.
• John Wieland Homes- we are seeing a gradual rise in our home sales and we have been fighting to hold our expenses right down to be even more competitive.
• True Homes- this is quite possibly the most optimistic of most, they’ve got continuously increased their market share of the latest homes being built and therefore are very aggressively pursuing more share of the market, especially in the top-end homes.
I have never spoken with anyone inside the custom market recently, so I pulled the permits for first-time homes and discovered that this number of permits being pulled was double for last month. We are only within our second week of March so hopefully, we are seeing the beginnings of the rebound for your housing business.
The construction industry as a whole has gotten a beating for your last 3 years, so for me while others hopefully we’re returning on course. The economic downturn has experienced a tremendous impact, especially for your custom real estate market, it turned out also a major contributing factor in weeding out the fly by night, scam artist, and neglectful builders who must have do not have been on the market. The housing sector as it rebounds needs to be a much more stable and reliable industry more concerned about quality than dollars.