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Building a Home in a Pandemic

May 19, 2020

If you’re a buyer at the initial stages in the process, the best advice from experts is to exercise patience. Expect the project to be dragged out longer, with delays in everything from construction to financing.

While the home construction market is well below pre-pandemic levels, builders and economists who follow the industry forecast steady improvement later this year. The supply of existing homes is tight, and interest rates are at historically low levels.

A new Redfin report says that new homes represent a bigger share of homes for sale — 1 in 5 in April compared with 1 in 6 in April 2019.

The supply of existing homes is shrinking fast with some homeowners delaying plans to sell and others pulling properties off the market because of the pandemic. The supply of new homes fell 10.5 percent in the 12-month period ending in April, according to Redfin, compared with a 24 percent drop for existing homes.

Among the variety of floor plans that S W Wold offer, there's an added benefit to the lower interest rates and lack of competition. It's stress free planning for your future.

Picture Courtesy: Shelterforce

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