Good News for Home Owners

When the real estate market slowed to a crawl nationally so many builders never saw it coming that it makes the thinking person scratch their heads and say “huh”.  I mean, who is looking at all the economic data anyway?  If big companies aren’t looking at it who is?  Well, at the end of the day it’s like a good friend of mine, Don Hassey, always used to say, “A big shot is just a little shot that kept on shooting!”  Another words, even large companies are run by people just like you and me.  Are they brighter? Probably not.  More politically astute?  Probably.  Bigger risk takers and comfort zones?  Bingo.

No doubt about it home builders got caught with their pants down on the economic front and banks took back NEW homes at a rate not ever seen before.  Where’s the good news in all of this? New home inventories are at 271,000 nationally down 52% from mid 2006! In fact, inventory has decreased from 8.5 months in June to 7.5 months today!  What most of us innately already know is that the less new construction there is to compete with the better off the existing home seller is.  Combine this with the fact that our local Boiling Springs market has seen a  decrease in new home construction and existing home inventory prospects look even better.  See, there is good news out there after all.  Below is an article with more detail: Read more..