Finding a New Home Gets a Bit Tougher

With all the “For Sale” signs we’ve seen curbside over the course of the last year, it’s hard to believe we’re even talking about a home shortage—but it actually could happen with new home sales. For buyers who have been saving for years to purchase their brand-new or custom-built dream home, the housing pool could be shrinking. That means buyers will pay higher prices for the new homes that are available.

1-1613.1620

Recent federal regulators have made it more difficult for builders to secure loans to build new homes. Federal guidelines are tightening the screws on banks, suggesting they restrict commercial loans to less than 300% of total capacity. The guidelines were never adopted; however, banks still feel the pressure, to the point where they require home builders to pay off loans instead of refinancing.

So what does this mean to you, the buyer looking for a new home? New homes are being sold quicker than they can be built because of the banks’ stringent lending policies. If you want to have your chance at the best selection of new homes available, now is the time to buy.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: