A recent John Burns Real Estate Consulting April survey of builders across the country revealed some hopeful trends in new homes sales and construction.
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18% of survery participants have purchased land this year, and 29% indicate they plan to purchase land in the second quarter of 2009.
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70% of builders started homes in March, compared to only 59% in February.
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Washington, DC, Tampa, Charlotte, Dallas, Raleigh, Atlanta and Nashville are all seeing activity increases in the number of units sold per month, and a decrease in the number of unsold homes that are completed.
What does this mean to you? From prior housing downturns, we know that the resetting of land prices and builder activity are important steps to clearing and stabilizing the market.
It's not all doom and gloom out there, and this buyer's market is not going to last forever, no matter how dark it may seem right now.
Best Regards,
Melissa Tolson, GRI - Buyer's Specialist, the Landry Team
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