In the local Hampton Roads market, we have seen a slow down on builder/investor activity. Though large home sites are moving through inventory well(Rose & Womble is seeing a good upswing in activity). Yet, new developments are not happening.
In Spring 2011, some believe buyers demand for new homes will outstrip the new homes due to
the 5-9 month construction cycle for new homes. Those of this mind, believe resale homes will
increase as numerous home buyers won't be able to wait for the new construction but will desire
to take advantage of competitive prices and low mortgage rates.
Click on the link for a global, nationwide view of October New Home Starts in the U.S.
RISMEDIA October New Home Starts
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