New Construction: Hear Those Hammers In The Background

By
Real Estate Agent with Kona Home Team (luva llc) RS 62947

Kailua Kona, Hawaii: New Construction here in Kona is a little limited, not because of supply and demand, but more because of our shear size, and the "Bureaucratic Red Tape" developers have to deal with here. I will tell you that on our recent REALTOR Open House (or Caravan as we refer to it here), we had have had several new construction homes last week. 

Aloha, Lance Owens (RS) here with LUVA Real Estate, as you know by now we subscribe to several different real estate related websites and blogs and try to bring you Real Estate News that Matters. Today we bring you this from our favorite site Keeping Current Matters, take a minute to read the nation reports below and feel free to contact us - info at the bottom.

 

New Construction: Hear Those Hammers in the Background? | Simplifying The Market

New Construction: Hear Those Hammers in the Background?

 

However, there may be more (and better) competition about to hit the market in the form of newly constructed homes. This may put an end to the buyers’ frenzy over the limited inventory of existing homes which has been below normal levels for over a year.

According to the latest report from the National Association of Realtors (NAR), the forecast for new housing starts and sales will increase significantly over the next two years:

  • NAR is forecasting 1.1 million new housing starts in 2015, jumping to 1.4 million in 2016.
  • New home sales are projected to increase from the 437,000 in 2014 to 570,000 this year and 720,000 in 2016.

Bottom Line

In major urban areas across the country, building cranes are again stretched across the city skyline. In many suburbs, you can again hear the thumping of a carpenter’s hammer in the background. Those are the sights and sounds that inform us that it may be time to sell.

In Closing 

Aloha, Lance here again, I did want to mention a planned community in the works, but I do not think we will see anything for years to come, it's Kamakana Villages. I will try to get an update and share it with you as soon as I hear. 

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Aloha, and have a great day 

Lance Owens (RS)

(808) 936-8383

Lance@KonaHomeTeam.com

www.KonaHomeTeam.com

LUVA Real Estate 

75-240 Nani Kailua Dr #8 , Kailua Kona, HI. 96740 (Pines Plaza

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