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SELLERS’ MARKET? HOW ABOUT BUILDERS’ MARKET?

Will Springer Realtor

housing starts, when builders break ground and lay a foundation, are forecast to finish this year at 1.04M single-family homes, the first time since 2007 the figure will exceed a million. Amid rising land and construction costs, permits for single-family homes in King County slowed in the third quarter to 940, down 7.8%

Sellers 36
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Will Springer Realtor - Untitled Article

Will Springer Realtor

years, according to recent data, when it was only about five years just before the housing market crash of 2007. Legislation related to transit-oriented development did not pass. There are many home options available to prospective buyers – including new construction offerings in buildings that opened during the pandemic.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Now, home builders would need to construct as many as 1.2 Housing starts – the number of units builders would begin if development kept pace for the next 12 months – increased 19% nationally to a seasonally adjusted annual rate of 1.7 This was the fastest pace for combined single-family and multi-family construction since June 2006.