Builders Hike New Home Prices

Builders Hike New Home Prices

More builders report that they’re raising their prices on new homes. Twenty-four percent of 231 builders recently surveyed say they raised their prices in December – an increase over a 19 percent low reported in November, according to John Burns Real Estate Consulting Inc. data. The percentage of builders who say they lowered their prices fell to 8 percent in December after a 12 percent high in October.

In early 2013, more than half of the builders surveyed reported raising their prices, with some markets, posting double-digit increases from 2012 levels. But price increases slowed during the summer months as interest rates rose.

Lately, however, interest rates have mostly remained flat – around 4.4 percent to 4.5 percent averages – and improving employment numbers have builders feeling more confident again.

Michael Gapen, senior U.S. economist at Barclays, predicts that home prices will rise 7 to 8 percent this year, adding to last year’s gains of 11 to 12 percent.

My focus is to best understand the goals and visions of my clients, ensuring all decisions are made with a wealth of information and the necessary tools for a successful, rewarding experience.

I have found my Slice of Heaven I look forward to you finding yours!
Have Questions? Call Me  941-544-7270

Source: The Wall Street Journal

Kathy Toonder Headshot
Phone: 941-544-7270
Dated: January 23rd 2014
Views: 1,124
About Kathy: I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Kathy Toonder
8728 E. State Road 70
Bradenton, FL

Other Locations