Bucks County home buyers can enjoy some national good news from the construction industry: Housing starts in June 2012 rose 6.9%, which is the highest level in over three years. Although starts dipped 1.1% in July from June, they were still up 14.2% on a year-over-year basis, continuing a steady upward trend since a large decline that started in January of 2008. The sight of new homes being built in our communities is a good sign for a recovering economy.
The economy as a whole may still be lagging, with still below-average housing starts, and foreclosures and lower home values still present. But the encouraging news is that the trend of increased new construction signifies an increase in demand for housing, and a renewed interest from buyers.
The renewed interest may also be attributed to the extremely low loan interest rates, very low inventories, and a “rush” to purchase a new home before potential changes after the presidential election in November. In any case, new housing starts are good news for both buyers and sellers.
Please contact me if you are interested in buying or selling your home in Yardley, Newtown or anywhere in Bucks County. I am happy to assist you.
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