New Home Inventory in the Triangle Shrinking Rapidly

By
Home Builder with Stanton Homes - New Home Builder

Market Report - Raleigh NC

New Home Inventory Shrinking Rapidly in Third Quarter 2009

Triangle New Home Inventory Down 36% to Last Year

If you've been looking at new homes in the Triangle, you may have noticed something... or rather, less of something.  New Home listings have been steadily decreasing, even as the new home market has been starting to gather speed again.

Here's an overview of new home listings in the Triangle, this year and last year:

New Homes Raleigh NC - Market Reports - New Home Builders Raleigh NC

New home listings are down in every market area of the Triangle.  In the areas that are significantly down, buyers may be hard pressed to find a bargain.  Areas down less significantly may be somewhat more negotiable, depending on location, type of home, price point, and amenities.

Want to find out how your top choice of Triangle areas are performing, by price point?  Check out all the info here: 

In third quarter 2008, there were 4363 new homes listed in the Triangle.

In third quarter 2009, there were only 2806 new homes listed in the Triangle, across four counties and a multitude of cities.

Builders are building fewer "speculative" homes, and more home buyers are opting for completely custom new home packages, in every price point (which means the homes are not listed, but completed to the buyers exact specifications). 

 

 

Want to see the most recent Raleigh area market reports?

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Articles copyright Stanton Homes 2006-2018.  Unauthorized use is not permitted.  Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements.  Please note:  all listing information per MLS, and current as of posting date.  Information subject to change.  Stanton Homes does not make claims to ownership of  any lot listings, but can work with homebuyers to purchase available lots and build.  Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions.  Ask for further information regarding any community, lot or floor plan.  Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area.  No claim of ownership is made to homes or land pictured.  

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Tracy Santrock
Fonville Morisey/Santrock Realty Group, Inc. - Cary, NC
Raleigh - Cary Realtor/Broker In Charge

Excellent point Penny!  I'm planning on mentioning the decreased inventory for new construction in my Year-End market update!

Dec 31, 2009 11:28 AM #1
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