New Home Construction Hits Low
Good Monday Morning!
One of the largest changes we see in the Eugene and Springfield area and for the most part across the country is the lack of new home construction. Just a few short years ago new home were springing up everywhere in this area throughout most of the country. Now it is an unusual site to see a home under construction. The home building industry nationally remains in the doldrums with little change in site. The high cost of new construction in comparison to existing home costs, the competition of the foreclosure and short sale homes and difficulty in finding financing have taken their toll on the building industry. Also, overbuilding in some areas has had an enormous impact.
Many economists feel that there will not be a true rebound in our national economy until the home building industry is healthy again. There are just so many other industries that spin off from home building. Needless to say, there is also a home deficit beginning to take place in many areas from the lack of homes being produced for a number of years now.
The first sign of a return to a healthy Real Estate market will be the appearance of new homes under construction again. As existing home inventories reduce over the next few years and pent up demand picks up steam, this familiar scene will once again be present.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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1336 Tamarack St
Wonderfully updated home with huge backyard. On quiet street close to park and schools. Features light and bright living room with brick fireplace, well-sized bedrooms, updated baths, master suite with walk-in closet. 4th bed could be an office. New...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
