The Taylor Stucki Realty Group follows figures posted by the National Association of Home Builders because these figures are often used to determine the economic climate in the new housing industry. These figures forecast a healthy or failing trend in building. Even though new home sales dropped in May, builders filed 14.3% more applications for residential permits throughout the United States.
So what does that mean when new home sales are dropping?
It indicates the slow in sales is recovering and new homes sales during the next period are expected to increase.
You must also take into account some home builders may be speculating on properties they’re getting permits for. This means, they arrange the financing and start building a home expecting to sell it during or after it’s completed.
Still, most home builders don’t speculate in a market they don’t think they can sell in or isn’t showing a demand. So the forecast for an upturn is quite likely accurate. We’ll follow the building trends for you and let you know if the forecast was correct or if it was wrong.
In the meantime, feel confident the building trade is growing. The pistons are turning and America is getting back on track. Contact the Taylor Stucki Realty Group today and we’ll show you some local builders who are succeeding in the market and building beautiful homes. There’s something for everyone in Southern Utah. Call today!