On Thursday, July 29th, 2021, Barbara Ballinger wrote an article entitled “The Construction Conundrum” for the National Association of Realtors that delves into the current construction landscape and how builders are working around different setbacks. Here’s what our own Ben Brittingham said regarding this topic, included in the article:
“As the pandemic housing boom continues, many buyers are still losing out on homes as they go up against higher bids. Some are now seeking out land and new construction to get the home they want.
But this strategy has its own set of peccadillos, including a shortage of buildable sites, which associate real estate broker, Kim Cantine with Halter Associates Realty in Bearsville, N.Y., says is not brand new. “My area is experiencing its fifth year of low land inventory,” she says.
Land prices have also climbed and are experiencing bidding wars, Cantine says. To cope, some home buyers look to the popular 1980s alternative of tearing down a house to build a new one, says Ben Brittingham, vice president of marketing and sales with MN Custom Homes in the Seattle area.”
To read more, visit Barbara’s article here.