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Know Your Options Before Buying A Home
January 01, 2020 at 1:32pm | Rima Rafeh
Buying a home is scary. We understand that. You are often faced with many, many…many choices. Living in the city, a quaint suburb or a rural property. But it goes beyond location. The year a home is built can also bring in even more options. This year, however, many buyers are opting for a newer home because of the limited existing inventory available on the market today. Many buyers are even in the process of constructing a home just customized just for them! The National Association of Home Builders (NAHB) states that
“The second half of 2019 has seen steady gains in single-family construction, and this is mirrored by the gradual uptick in builder sentiment over the past few months.”
What does this mean for buyers not looking to construct?
Well, it’s great news! It means that more homes are being put on the pre-existing market. Recent data from NAHB states: “The inventory of new homes for sale was 321,000 in September, representing a 5.5 months’ supply. The median sales price was $299,400. The median price of a new home sale a year earlier was $328,300.”
The Bottom Line
Purchasing a home is new and exciting but comes with many choices. If you want to know yours please give me a call. I will be more than happy to chat with you.