June 5th, 2019
Let’s do a little update on what’s currently trending in housing.
Sales prices for newly-constructed homes dropped by 1% in Q1, the first drop in roughly 7 years
New home sales fell by 3.1% in Q1, marking the 3rd consecutive quarter of declines
New home supply rose 4.2% in Q1, the 4th consecutive month of increases
So what does decreasing new-home sales prices and sales with a rising new-home inventory mean for industry professionals? Well, on the builder side of the house, builder are trying to find ways to lower costs of their homes in order to stay competitive in a cooling value market.
On the consumer side of the house, cooling prices and rising inventory means buyers can negotiate more now than they have been able to in years, making this a great time for potential home buyers to get out there.
Like we said yesterday, now is the PERFECT time to start mining your database for old purchase leads who might now be able to benefits off of a growing buyer-friendly market.