Springfield New Construction Homes - The Shortage Will Bring Demand!
When the housing market bubble burst, builders were left with many unfinished homes in the Springfield Real Estate market. A large marjority of home builders quit building. Banks tightened their lending and builders had to stop construction.
In the Springfield area, there are very few new homes......less than a 100. We saw the shortage start in 2009. 2010 will most likely bring a demand for new homes.
The photo on the right in one of ten unfinished homes that we marketed in December 2009. All but one home is currently under contract or sold.
What will this do for the Springfield new construction market? Buyers are now looking to build custom homes. Builders believe their business will begin to increase in the coming months.
Houses between $100,000 and $200,000 will be a large part of the Springfield market in 2010. The only thing I see is the market will suffer more if interest rates increase. Rate have already risen 1% over 2009.
Are we out of the woods? Foreclosures and short sales are still increasing and home values continue to slowly drop. The Tax Incentive package will be over the end of April, so home sales may decline. Smart home buyers are out looking now.
Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.
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RE/MAX Solutions www.kayvankampen.com
Springfield, MO, 65721
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