When the economy took a negative turn a few years ago, one of the industries hardest hit in the real estate community were new home sales. Recovery had been slow for this industry, but this year, it appears new home sales have turned a corner in the positive.
According to the Commerce Department, new home sales in April rose 3.3%, and the median selling price of a new home is up 4.9% over the previous year. Sales are still slow compared with the boom years when they reached a rate of close to 1.4 million, but the month’s results were slightly better than expected.
This, along with competitive residential real estate inventory and interest rates that are remaining historically low are driving the market in a positive direction. Santa Clarita Valley residential inventory is incredibly low right now, and this may be the time to consider purchasing a new home where you can lock the sale in without worrying about being outbid.
There are many benefits to purchasing a new home. First of call, it’s a NEW home. This means that in most cases, you are able to work with the developer to pick the land lot, the style of home (from the selection of models), and even choose your amenities and upgrades before it is built. Many developers offer the option of financing upgrades into your home mortgage that will only minimally affect your loan payment, which allows you to move in with upgrades already installed.
Certain new home developments are building homes with the environment in mind; offering solar energy and smart irrigation technology that can save you big on your utility bills.
I can help you find the perfect new home, or any home in and around the Santa Clarita Valley. If you would like to know more about the housing market, or would like to schedule an interview to analyze your needs, feel free to contact me. I’m here to help.
Keller Williams VIP Properties
25124 Springfield Court Suite 100
Valencia CA 91355
Toll Free: 800-891-6415