Home Builders’ give Confidence to Tampa Bay Sellers’
Posted by: admin / Category: ALL Posts, Market Opinion, Tampa Bay Real Estate
The latest NAHB/Wells Fargo (HMI), released today sites home builder confidence at new record low of 8, (E-I-G-H-T).
A rating of 50 or above is considered GOOD for builders.
This is really good news if you are selling your home, not building a brand new one!
One article states that new home starts are off 75% from the market peak.
Again, good news if you have a home that is already built and want to sell it.
The inventory you were competing with is disappearing and your competition is now comparable. While prices may not be going up any time soon, the opportunity to review an offer may.
The outlook for controlling residential resale inventory is better based on this recent industry news!
Sit tight and new hope is alive as stimulus and incentives will aid purchasers as they request more showings on existing dream supply versus waiting for builders.
One Response to “Home Builders’ give Confidence to Tampa Bay Sellers’”
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January 27th, 2009 at 11:03 am
This is very true. I spoke with 2 different builders over this past weekend who informed me they have sold all of their inventory homes and the only thing they have to sell is to be built.
This is great for our market in helping to sell our existing homes because the builders do not have the ability to offer such steep discounts for a to be built home, thus making existing homes more attractive for value and time.