Florida Home Builders Prepare for Homebuying Frenzy
As home prices remain affordable and interest rates hit record lows, Florida home builders have seen an uptick in buyer demand. Experts note we may be on the verge of a homebuying frenzy.
Why now you might ask? During the recession, many potential homebuyers were unable to purchase a home due to financial uncertainty, but now the economy is coming back and those buyers are ready to purchase. Referred to as “shadow demand,” it is estimated that as many as 2 million people who might have wanted to purchase a home between 2008 and 2010 did not due to the recession. Now those people, as well as the regular flow of new homebuyers, are out searching for their perfect home.
Buyer demand is good for the housing market, but inventory of existing homes has declined, meaning that there are fewer properties listed for sale. Builders, such as Highland Homes, have responded by starting construction on new homes to meet market needs. This increase in home starts, along with an increase in home sales, will lead to an increase in home prices, so buyers who are looking to take advantage of low prices should purchase as soon as possible.
At Highland Homes we offer stylish new homes in Lakeland, Tampa, Orlando and Winter Haven. With more than 40 floor plans available and homes affordably priced from the low-$100,000s, buyers are sure to find the home of their dreams. To make purchasing your new home even more affordable, qualified buyers can purchase their home for just $99 down.
Now is the perfect time to purchase a new home in Central Florida. For more information on all of our new home communities, floor plans, videos and more, visit the Highland Homes website today!