{"id":7189,"date":"2020-03-09T10:00:24","date_gmt":"2020-03-09T10:00:24","guid":{"rendered":"https:\/\/thezakariagroup.com\/new-homes-coming-to-the-housing-market-this-year\/"},"modified":"2020-03-09T10:00:24","modified_gmt":"2020-03-09T10:00:24","slug":"new-homes-coming-to-the-housing-market-this-year","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/new-homes-coming-to-the-housing-market-this-year\/","title":{"rendered":"New Homes Coming to the Housing Market This Year"},"content":{"rendered":"
\n

\"New<\/p>\n

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the\u00a0latest\u00a0U.S. Census Bureau\u00a0<\/em>and\u00a0U.S. Department of Housing & Urban Development\u00a0<\/em>Residential Construction Report<\/em><\/a>,<\/em>\u00a0the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December.<\/span><\/p>\n

How will this impact buyers?
<\/strong><\/h4>\n

New inventory means more options.<\/strong>\u00a0Lawrence Yun, Chief Economist<\/em> at the National Association of Realtors<\/em> (NAR),\u00a0<\/em>explained<\/a> how this is good news for the housing market \u2013 especially for those looking to buy:<\/p>\n

\n

\u201cMore construction will mean more housing inventory for consumers in the later months of this year\u2026Spring months could still be quite tough for buyers since it takes time to convert housing starts into actual housing completions.\u201d<\/em><\/p>\n<\/blockquote>\n

How will this impact sellers?
<\/strong><\/h4>\n

More inventory means more competition.<\/strong> Yun continues to say:<\/p>\n

\n

\u201cAs trade-up buyers move into these newly completed homes in the near future, their existing homes will be released onto the market.\u201d<\/em><\/p>\n<\/blockquote>\n

Today, because of the tremendous lack of inventory<\/a>, a seller can potentially anticipate:<\/p>\n

    \n
  1. A great sale price<\/strong> on their house as buyers engage in potential bidding wars.<\/li>\n
  2. A quick sale<\/strong> as buyers have little inventory to choose from.<\/li>\n
  3. Fewer hassles<\/strong> as buyers want to smoothly secure a contract.<\/li>\n<\/ol>\n

    Bottom Line<\/strong><\/h3>\n

    If you\u2019re considering selling your house, you\u2019ll want to list sooner rather than later. This way, you\u2019ll get ahead of this new competition coming to market and ensure the most attention toward your listing and the best price for your house.<\/p>\n<\/div>\n

    Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

    The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the\u00a0latest\u00a0U.S. Census Bureau\u00a0and\u00a0U.S. Department of Housing & Urban Development\u00a0Residential Construction Report,\u00a0the number of building permits issued in January was 1,551,000. This is a […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[99,100,102,873],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nNew Homes Coming to the Housing Market This Year - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/new-homes-coming-to-the-housing-market-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Homes Coming to the Housing Market This Year - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. 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