Friday, May 11 2012
There’s no crystal ball economists can use to forecast the future (in fact, their pronouncements are often so vague you’d think they were using a recently-shaken snow globe).
But Evansville housing prospects may be headed for brighter days if we look for guidance from the people who back their words with action: U.S. builders.
The almost startling news came out in the latest release from the Commerce Department: more permits for beginning work on new homes and apartment complexes were requested in March than for any other month in the last three and a half years! This means that somebody – or, better said, a great many somebodies -- expect demand for new housing to go in the right direction.
They expect this to happen at a rate that is more than 30% higher than the same month a year ago, and that’s the kind of jump that should send a message to those (investors, bankers, economists) who rely on those building permit numbers to tell them something about what’s happening in the real world. It could mean that buyers looking to purchase new homes will soon have even more options.
The good news doesn't stop there. Not only have more residential building permits been requested than in recent history, groundbreakings on new residential construction in March 2012 were also more than 10% higher than in the previous year.
The changing market conditions in the Evansville area are another reason the role of your real estate agent is so important. Navigating the real estate landscape can be a daunting task when you go it alone, but homebuyers have no need to do that. My clients count on reliable assistance every step of the way -- from deciding which home is the right fit, to negotiating the best price, and finalizing the purchase. If you’d like to learn more about how the new homes market looks this week, give me a call! You can reach me on my cell phone 812-499-9234 or by email Rolando@RolandoTrentini.com