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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

Others – Meritage Homes (+20% YoY in 2021) and Tri Point Homes (+15-30% YoY in 2022) – expect tremendous growth of new communities. And many of the new projects are larger than in years past. Builders began construction on just under a million single-family homes in 2020. New data show this subset of buyers accounted for 2.8%

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Will Springer Realtor - Untitled Article

Will Springer Realtor

This year’s “cold down” is stark, with 36% fewer new listings and about 26% fewer homes under contract (Pendings) for all King County home types combined as well as single-family structures alone – and that’s simply from October to November. List price: $43M ($5548/sq. Prices declined 5.4% in King ($468K), 6.3% drop ($677,475).

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Builders are trying to catch up and, according to federal officials , there are more housing units under construction today than at any time in the last 50 years. An annual survey released this month by the Federal Reserve Bank of New York said renters put the probability of ever owning a home at 40%, down from 44% last year.

HOA 36
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CAN HOUSING SHORTAGE CATCH UP TO EASTSIDE DEMAND?

Will Springer Realtor

just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A BY THE NUMBERS. >> The average size of a newly constructed single-family home is now 2524 sq.