- Housing News
- August 20, 2021
Supply Chain Issues Slowing Down New Home Construction
It appears that June's good news on the new home front was short-lived, as a new report shows that construction of new single-family homes declined in July.
It appears that June's good news on the new home front was short-lived, as a new report shows that construction of new single-family homes declined in July.
For much of the year, one of the common concerns among would-be homebuyers is that there are simply not enough homes on the market. It looks like there might be a bit of a light at the end of that tunnel, especially for first-time homebuyers.
Considering that mortgage applications for new home purchases were down in June, it probably shouldn’t come as a shock that when the new home sales data for June came out, it showed that sales were down too.
There's some good news on the new home front, as construction of new single-family homes continued increasing in June. But the news isn't all good as prices continued rising as well.
If you're in the market for a new home, you may have taken a look at a model home in a new development. Your agent probably walked you through a stunning unit with a big, open floor plan, attractive bonus features, an ideal backyard, and top-tier appliances.
The new home construction rollercoaster continued in May with housing starts bouncing back up after falling in April, but a lack of available building materials could soon lead to a protracted decline in homebuilding.
Over the last 16 months, people's attitudes towards where they live have shifted dramatically, driven by the rise of remote work. For many, gone are the days of living in the bustling metropolis. Instead, they are drawn to more land and more home for their money in the outlying areas. And that's exactly where homebuilders are building more homes.
Building codes are the legal regulations that govern the design, construction, alteration, and maintenance of a structure or dwelling—including residential, commercial, and agricultural, as well as schools, churches, and garages.
Each builder may offer different incentives, according to their unique business model or method of operation, but you can expect builder incentives to comprise one or a combination of three categories: price cuts, financial inducements, and material upgrades.
Here are the benefits of purchasing a newly constructed property.