New Home Sales
The past 9 years have been very challenging for home builders in this area as well as most of the country. Many small and medium size builders have left the business and along with them a lot of skilled tradesmen. In fact, so many tradesmen have left the industry that when the housing market recovers and there is a demand for more new homes to be built, we will have a problem finding the labor to build them. This could become a serious problem.
New Homes sold by year
As you can see there has been a precipitous decline in new home sales over the last 7 years. I believe that last year will be the low mark for new home sales in our market. We should see a small but steady uptick in new home sales in the next few years. Why do I say this? Call it Realtors intuition. Actually it is a combination of clients that I have been working with over the past few months as well as some top secret research I have been doing.
As a former home builder I will attest that building homes is a tough, competitive business. While I can't say I miss it, I will say there is a lot of pride and satisfaction when I ride by a home I built 30 years and thinking to myself, I did built that house Mr. President.
If you have any questions about Real Estate, give me a call or visit our website at www.newbern-nc.info
Also, catch my show on CTV10 on Fridays, 8-9. We talk about government, business and politics.