Referencing this article on CNBC
At its core, this is correct, especially in desirable locations. I've been in this business since 2002, after the 2007-2008 real estate crash large national builders (D.R. Horton, Lennar, Pulte, Toll Brothers, Richmond Amerca, etc) stopped building homes for years. Meanwhile, household formation continued.
Each market is unique, and submarkets within the greater market are based on size/price/location. The under $500k market in the Hendersonville and Asheville area is very short on supply, keeping prices elevated.
It has been good to see some normalization since interest rates went up last year, but I wouldn't expect a large drop in prices, especially in the under $500k market.
Feel free to contact me anytime to discuss your real estate needs/goals/dreams.
As a reminder, Your Choice Realty of NC offers a 1% buyer rebate from our commission on qualifying new construction
purchases! That's $5,000 on a $500,000 home.
Phil Jones - Broker
Licensed in NC & FL
Realtor.PhilJones@gmail.com
#wncrealtorr #wncrealestatee #drhortonasheville #DRHorton#realestateinvestor #tollbrothers #RichmondAmericanHomes#lennarhomes #homeprices #newconstructionhomes #realestatelife
https://www.cnbc.com/2023/09/20/us-home-prices-to-rise-in-2024-there-are-simply-not-enough-homes.html
Comments(3)