Building Lots on Philadelphia's Main Line Under $300,000
Overview - New Home Construction
According to the National Association of Home Builders ("NAHB"), new home construction spending has now reached a four year high. Private residential construction spending surged 3% on a month-to-month basis in October 2012. Following increases in 14 of the last 15 months, nominal spending on private residential construction activity is at its highest dollar value since late 2008.
New single-family homes continued to post solid rates of growth, increasing 3.6% on a month-to-month basis for the second month in a row. Spending is also 29% above its year-ago level and has climbed 55% since bottoming out in mid-2009. This latest data on construction spending confirms the recovery for new single-family home construction that has been observed via housing starts. With permit authorizations climbing rapidly and hitting their highest levels since the summer months of 2008, the NAHB anticipates this robust pace of growth in construction activity to continue over the near term.
Interested in building lots for sale on Philadelphia's Main Line PA? Click that link to find all of the currently available building lots in this area.
What’s the Main Line Like?
According to Wikepedia, the Main Line comprises a collection of affluent towns built along the old Main Line of the Pennsylvania Railroad which ran from downtown Philadelphia to west along Lancaster Avenue. Long considered a bastion of "old money", today the Main Line is a vibrant collection of exclusive and affluent towns including Gladwyne (the 7th richest zip code in the country) and Lower Merion Township (the 5th richest township in the country)
With many towns located on steep cliffs along the Schuylkill River, the breathtaking scenery of rolling hills, open meadows and winding roads add to the glory of this beautiful area. The Main Line is known for its multimillion-dollar stone Colonial homes, exclusivity, unsurpassed golf, and upscale shopping at celebrated destinations like Suburban Square in Ardmore and the King of Prussia Mall, the second largest mall in the country. The area is also home to many of the best public and private schools in the nation which contributes to the high quality of life found on the Main Line.
Why buy a building lot along the Main Line?
With the housing recovery in full swing, now is an excellent time to buy and build a home in one of the most affluent areas in the United States. In addition, mortgage rates have been at or near historical lows for several years. An expected increase in the demand for housing means these rates could go up. It also makes good sense to invest in real estate in an “in demand” area with a limited supply of available land.
Now You Really Want To Find Building Lots Here, Right?
If you are interested in finding available building lots for sale on the Main Line PA click on the link. Our for sale property information is a direct feed from the MLS and is updated multiple times per day.