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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Are New Homes Going to Be Available to Buy This Year?

Are New Homes Going to Be Available to Buy This Year? | Simplifying The Market

In today’s economy, everyone seems to be searching for signs that a recovery is coming soon. Many experts agree that it may actually already be in motion or will be starting by the 3rd quarter of this year. With the housing market positioned to lead the way out of this recession, builder confidence might be a bright spark that gets the recovery fire started. The construction of new homes coming right around the corner is a huge part of that effort, and it may drive your opportunity to make a move this year.

According to the National Association of Home Builders (NAHB): 

“New home sales jumped in May, as housing demand was supported by low interest rates, a renewed household focus on housing, and rising demand in lower-density markets. Census and HUD estimated new home sales in May at a 676,000 seasonally adjusted annual pace, a 17% gain over April.” 

In addition, builder confidence is also rising, opening up opportunity for newly constructed homes in the market. The NAHB also notes:

“In a sign that housing stands poised to lead a post-pandemic economic recovery, builder confidence in the market for newly-built single-family homes jumped 21 points to 58 in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading above 50 indicates a positive market.”

As noted above, this upward trend is supported by builders reporting an increase in demand for single-family homes in suburban neighborhoods with lower-density populations, a result of the COVID-19 health crisis.

Moreover, the most recent Monthly New Residential Construction Report from the U.S. Census indicates that authorized building permits for new residential construction increased by 14.4% month-over-month from April to May, and housing starts were also up 4.3% over the same time period. (See graph below):Are New Homes Going to Be Available to Buy This Year? | Simplifying The MarketAlthough housing permits and starts are both considerably lower than they were at this time last year, indicating the new construction market is still working on building its way back up, the trends are moving in the right direction when it comes to having an impact on the U.S. economy. They’re also poised to create the much-needed new homes for Americans to purchase in a time when inventory is so scarce.

Dean Mon, Chairman of the NAHB notes:

“As the nation reopens, housing is well-positioned to lead the economy forward…Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising. And buyer traffic more than doubled in one month even as builders report growing online and phone inquiries stemming from the outbreak.”

The gap between homes to buy and the high demand from purchasers may be narrowed by new construction, and the data shows that these homes are on their way into the housing market.

So, if you’ve debated whether or not to sell your house this year because you’re not sure where to move, a newly-built home – designed to your specific liking – may be your answer.

Bottom Line

With new residential construction right around the corner, you can feel confident about selling your house and having a place to move into. Maybe it’s time to finally design the home you’ve always wanted. Let’s connect today to discuss selling your house while demand from eager buyers is high.

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
- Active

Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
15 Hibiscus Drive Ormond Beach FL 32176
New Listing - 15 minutes on site
1 / 46
$419,000
2
BEDS
2
TOTAL BATHS
910
SQFT
15 Hibiscus Drive Ormond Beach, FL 32176
Single Family Residence For Sale
- Active

This fully renovated coastal residence combines a contemporary style with a breezy seaside vibe. Just a brief walk away lies the no drive beach, offering peace and quiet. The home features two bedrooms, two full bathrooms, crown molding and for adde

Listing courtesy of Deborah Carter of Realty Pros Assured
1 River Bluff Court Ormond Beach FL 32174
New Listing - 11 hours on site
1 / 58
$525,000
4
BEDS
4
TOTAL BATHS
2,472
SQFT
1 River Bluff Court Ormond Beach, FL 32174
Single Family Residence For Sale
- Active

JUMP into this amazing 4 bedroom POOL home in the centrally located Tomoka Oaks neighborhood! The stately brick residence features TWO primary bedrooms with en suite bathrooms and doors to the pool, sits on a beautifully landscaped corner lot with m

Listing courtesy of Michelle Zirkelbach of Adams, Cameron & Co., Realtors
2940 Sunset Drive New Smyrna Beach FL 32168
New Listing - 14 hours on site
1 / 45
$749,000
3
BEDS
3
TOTAL BATHS
1,812
SQFT
2940 Sunset Drive New Smyrna Beach, FL 32168
Single Family Residence For Sale
- Active

ENJOY TRANQUILITY & BREATHTAKING SUNSETS ON THE BAY FROM THIS ''HIGH AND DRY'' DIRECT WATERFRONT CUSTOM BUILT THREE BEDROOM TWO AND 1/2 BATH POOL HOME NESTLED IN NATURE ON MORE THAN 1/2 ACRE. LIFE ON TURNBULL BAY OFFERS A YEAR-ROUND BOATING, FISHING

Listing courtesy of Shannon FitzPatrick of RE/MAX Signature

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Related posts:

  1. First-Time Buyers Are Searching for Existing Homes This Year
  2. New Homes Coming to the Housing Market This Year
  3. The Biggest Issue Facing Housing Next Year
  4. The #1 Reason It Is Difficult to Find Your Dream Home

Posted in: Blog, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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Today’s Real Estate Information

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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