More builders are jumping back into the housing market.
The National Association of Realtors revealed year-to-date new home sales are up 19%.
Brand new homes will again become competition as they can be an attractive alternative to many of today’s home purchasers.
Here are the numbers regarding new construction about to come to market from the Census Bureau:
Single-family authorizations in February were at a rate of 600,000.
This is 25.5% above February 2012.
HOUSING UNDER CONSTRUCTION
Single-family housing starts in February were at a rate of 618,000.
This is 18.5% above February 2012.
Single-family housing completions in February were at a rate of 574,000.
This is 32.9% above February 2012.
New construction can be strong competition to a seller of an existing home.
It may make sense to list your home before this new inventory makes its way to market.
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Home Sellers - New Construction May Soon be Your Competition