The start of a new year is often a time of reflection, which over the past 12 months, held a struggling real estate market in my market area. Thankfully, reflection also brings about anticipation and optimism for the year to come. In lieu of our new year approaching, I’ve decided to put together 11 residential real estate predictions for 2011 – released one day at a time. Enjoy!
1) New Construction making a comeback:
After three years of little to no new home construction or development, I am predicting an uptick in new construction for builders. After a mass-saturation of new homes 3-7 years ago, we’ve seen a shortage of new construction in our area over the past 3 years. With land prices lower, some stabilization coming back to the financial lending markets, and buyers coming back out of hibernation, I believe we’ll start to see more new construction starts to meet demand for this very desirable type of housing for consumers. The larger builders that are in a financially stable position will likely benefit the most, so you’ll see new larger developments and sometimes several builders going in on land together in order to remain financially solvent.
Stay tuned for tomorrow’s prediction!
For help on your next real estate transaction in the Greater Seattle area, give me a call at (425) 483-1010 or visit http://www.RyanHalset.com
Real Estate Broker | Realtor ®
Boardwalk Real Estate, LLC
Phone: (206) 930-7959 | Email: Ryan@BoardwalkSeattle.com
Providing professional real estate services throughout the Greater Seattle area.
North Seattle | Bothell | Lake Forest Park | Edmonds | Mill Creek