As the snow begins to melt, and the grass shows itself once again, the spring buying season emerges as well. Notable economist Jonathan Smoke provides us with this article, providing effective tips on spring buying. Here’s some word from Smoke on new construction:
“If you are shopping in an area where new homes are being built, don’t assume a brand-new home is out of your price range. While new-home prices have indeed increased at a faster rate than existing-home prices in recent years, that’s partly because low demand from first-time buyers encouraged builders to feature bigger and more expensive homes. In some parts of the country, we are seeing builders open up more affordable communities.
For example, in markets like the greater Cincinnati; Chicago; Washington, DC; andRaleigh, NC, areas, substantial portions of new homes for sale are within budget for households earning the median income for the area.”
Intrigued, and ready to get out to the market? Check out the rest of Jonathan’s article right here: