New Home Supply and Demand and its Effect on Pricing

By
Real Estate Broker/Owner with Aspen Lane Real Estate Colorful Colorado CRE# 40005863
https://activerain.com/droplet/Rx9

 

New Home Supply and Demand and its Effect on Pricing

 

construction

One of my specialties in Colorado is new construction.  I love working with builders and finding buyers for their new homes.

 

I have been working with Lennar and Pulte for some time now, and, as you may have seen in last week's blog - they are selling dirt lots left and right!

 

 

Lennar Homes In Colorado - Click here! 

 

Pulte Homes In Colorado - Click here!

Lately I have run in to so many buyers who want to “Make an Offer” on new homes.  A few years ago, this would have been fine, but not anymore.

The demand for NEW homes in Colorado has skyrocketed and the supply has dwindled. Because of this, builders are no longer “Making Deals” on new homes.  They certainly offer incentives for using their preferred lender but they just aren’t budging off the asking price.  They don’t have to.  They can’t seem to build the homes quick enough to keep up with the demand.

If you are looking for new homes in Colorado, it is time to adjust thinking a bit.  If you find a home and you want to go home and sleep on it, it is likely that it will be gone by the next day.  That’s how quick things are moving.  Now is the time to jump on a home if you truly love it.  Don’t let the next buyer come in and buy it out from under you.

 

Check out my new home listings and see which home you want to JUMP on today!

 

www.AspenLaneRealEstate.com

 

 

 

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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Belinda -

Your knowledge of new construction homes in and around the Denver area beams in your articles.  Anyone interested in building / buying a new home in the Denver area would be wise to contact you Denver area REALTOR Belinda Spillman for guidance and assistance in making their real estate dreams become a reality.

Mar 04, 2013 12:27 AM #1
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good advice for prospective home buyers.  The days of the deals are now past history in many markets.

Mar 04, 2013 12:31 AM #2
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

John,  I try to keep abreast of all the new construction sites in our area.

Roy,  The deals they are a gone. 

Mar 04, 2013 12:49 AM #3
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Belinda - It's the same up here - the deals are gone, for now, and it's going to take a major shift in inventory conditions to bring them back. I just don't see that happening for a while, but the builders are still seeing strong demand, and a few, in the lower end of the price range for these, are having trouble keeping up.

Mar 04, 2013 12:56 AM #4
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Belinda - new home construction is rare in our market but last week I was with some out-of-town buyers and we headed to east to check a new development --- eleven homes sold over the previous weekend --- sometimes "the deal" is getting the offer accepted.    

Mar 04, 2013 12:56 AM #5
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Dick,  They are selling in record time.  I have a guy who wanted to write a contract on one this weekend and the builder sold it out from under him.  Square One!

Michael,  I bet you don't see a lot of new construction in Pasadena.  Your neighborhoods seem to be very established which is what gives them their chram.

Mar 04, 2013 01:16 AM #6
Rainer
117,616
Liz Hill
YOUR CHOICE REALTY CORP BROKERAGE - Barrie, ON

Hi Belinda, the Buiders round here are not very negotiable either, although they do tend to compete with incentives.

Mar 04, 2013 01:21 AM #7
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Are you keeping your partner busy?  Drop in at The Oscars, it's a good time.

Mar 04, 2013 01:24 AM #8
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Belinda,

That is great news for the new home market...it is wonderful that you specialize and understand new homes. A

Mar 04, 2013 01:55 AM #9
Rainer
368,626
Erin Bates
CMG Financial and Expansion Marketing Services - Aurora, CO

Great blog mother - I hope all 16 of those Lennar lots will be sold in no time! People definitely need to understand that the market is changing and your blog is a great indication of that. 

Mar 04, 2013 02:07 AM #10
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Belinda,  Good topic, and yes the public needs to be educated to how it works when the market is hot.

Mar 04, 2013 03:54 AM #11
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Julie Chapman
DR Horton - Lakeland, FL
New Homes Sales Lakeland Florida

homes brunswick ga for sale - short sales brunswick ga

 

Congratulations on the featured post in the New Home Sales Group. Thank you for your continued support and contributions to the group.

Mar 05, 2013 01:43 PM #12
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

It's great to see how vibrant the market is in your area Belinda!

Mar 05, 2013 03:18 PM #13
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