A New Round of New Home Price Increases Set for October 1 - With More Increases Planned
Posted by Mike Askins on Monday, October 1st, 2012 at 1:11pm.Is September already gone? Yes, and with it September's new home prices are for the most part, gone as well. As of today, October 1, new home builders like Drees, KHOV, Windsor and Highland Homes (just to name a few) are again raising prices to combat the rising costs for land, materials and labor. For a fast example, Drees Homes at the Villages at Stonelake Estates Frisco are raising prices by $8000 per house effective today. They also indicated that they will again raise prices on November 1 another $8000 per house.
New home prices in Frisco and Collin County are on the move and have been rising steadily since mid 2011. However, the cost of residential real estate across the U.S. has also been rebounding. I just returned from a Real Estate conference in Florida where Realtors from around the U.S.A. and Canada attended. In every market represented, real estate costs and activity was improving. This surge in Real Estate activity is putting a big demand on land costs, construction material costs and associated labor costs and the result is higher home prices in North America as well as in Texas and the DFW Metroplex.
Still there are new home communities that have held the line on costs. Most of these neighborhoods are near close out and the land costs are significantly less that what builders are having to pay in the newer more trendy communities. ARG can help point you to locations that can help you save money when buying a new home.
If you're sitting on the picket fence, it looks like it will become increasingly more painful financially, the longer you wait. Why not take the lowest mortgage rates in generations as a consolation to rising home costs, along with my Texas Best Home Buyer Cash Rebate, plus I can help you find and connect with a new home builder, or even a quality relatively new home that best meets your budget and lifestyle needs.
Links of Interest
- http://online.wsj.com/article/SB10000872396390444165804578008284088711620.html
- http://articles.latimes.com/2012/sep/26/business/la-fi-home-prices-20120926
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