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Why we need more newly constructed homes

The percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in 40 years.

The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just reported that the percentage of all house sales that were newly constructed homes has fallen to the lowest numbers in forty years. This should come as no surprise as the number of new housing starts has fallen dramatically over the last several years.

We need more new construction for two reasons:

  • In Reno real estate, we have seen a lot of pent-up buying demand causing price appreciation to continue; this can help alleviate that back to historic norms
  • It will give better opportunities to many people who own a home in Reno who want to sell but can’t find an adequate home to move into

There are many reasons you may want to buy a Reno home or sell your house. If your housing needs have changed, or are about to change, contact Marshall Realty today at (775) 787-7400. Reno real estate is changing all the time. We will help guide you through the process.

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Content Courtesy: Keeping Current Matters and Marshall Realty

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