Here are my thoughts about the current housing market and some waiting until home prices fall before they get into the housing market, start to look and eventually buy a home.
Land is a limited commodity especially in areas that are close to businesses, shopping, highways, sporting venues, etc. The less available land the higher the prices. As homes continue to move out of the local developed areas and into more rural areas, land is absorbed.
As land is absorbed by lower-priced homes the only builder that can and will build are higher priced builders. Do you want to wait until the location you wish to live is out of your reach? Homes for sale in Frisco, Homes for sale in Aubrey, Homes for sale in Prosper, Homes for sale in Little Elm are at a premium.
Lumber prices have skyrocketed as the pandemic has affected lumber production and lack of new contracts with Canada have not been agreed upon.
Appliances are in short supply. Have you tried to buy a frig from Nebraska Furniture Mart? You will be waiting so hopefully you are not a great need of a new fridge or cooktop.
Build time has increased as supplies are taking longer to be delivered and tradespeople are in short supply.
Want more information and a plan to address your housing needs and potential purchase of a home, Let’s Talk. There are many variables, waiting for the right time and right home may not be one of them.