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How will new home builders impact sellers?
Dated: March 15 2019
Views: 67
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months.
According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact sellers?
More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:
1st. A great price on their home as buyers outbid each other for it.
2nd. A quick sale as buyers have so little to choose from.
3rd. Fewer hassles as buyers don’t want to “rock the boat” on the deal.
But MORE home builders (and of course all those model homes with everything a buyer could want) will start building!
Can you compete against them?
How will this impact sellers?
More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:
1st. A great price on their home as buyers outbid each other for it.
2nd. A quick sale as buyers have so little to choose from.
3rd. Fewer hassles as buyers don’t want to “rock the boat” on the deal.
But MORE home builders (and of course all those model homes with everything a buyer could want) will start building!
Can you compete against them?
Kenneth Manesse
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