Building Permits Extremely Weak, Continue to Fall
Home builders and housing permits are not looking very encouraging. Latest reports show that home builders are not very positive on the outlook for the housing economy now or in the near future.
It should come as no surprise that the lack of confidence by the home builders has resulted in less and less housing permits being requested and granted. Home sales have slowed down so much currently and there is very little incentive for builders to be taking risks with the current housing crisis.
With the foreclosures and the deep discounts on distressed properties there are very few that are willing to compete with a new home. Until we see an improvement in the housing market and clear recovery you likely won’t see new homes springing up.
Now if you are custom building and hiring out a builder then you are likely going to get a great deal and the builders don’t take as many risks with a custom build job. Don’t count on seeing too many new homes that are built on speculation in hopes that the perfect buyer will come by and purchase the home that is available.
If you have any questions about the current status of the housing market and how you may be able to benefit from the buyers market then simply call toll free (866) 825-6261. There is a great opportunity for purchasing and refinancing with the record breaking low interest rates of today.