Improving Economy Creates Buyer Demand for Central Florida New Homes
The housing market and the economy go hand-in-hand, so as the economy improves, the housing market improves. While some home buyers have held off on purchasing a new home until they felt more stable, a recovering economy has given buyers the confidence that now is the time to buy the perfect central Florida new home.
Nationwide, sellers are seeing an uptick in buyer traffic due to still low home prices and record-low interest rates. From 1997 to 2007, about 1.3 million new households were created annually, but after the housing market crashed, that number decreased to about 600,000 per year. Moving forward, “shadow demand” may have a positive impact on this number as buyers who have held off on purchasing a home due to financial and economic uncertainty are starting to reemerge.
As more buyers become homeowners, sales prices are expected to continue to rise, which should also continue to help bring underwater homeowners back out from under negative equity. The Federal Reserve Board recently estimated that if national home prices were to gain 10 percent of their current value, it would bring about 40 percent of these borrowers to being right side up.
At Highland Homes we are excited about the housing market recovery in central Florida and have started construction in several new home communities. Our variety of single-family homes are beautifully designed and affordably priced from the low-$100,000s. Purchasing a new home can be even more affordable with qualified buyers having the opportunity to move into their dream home for just $99 down.
With 40+ home designs to choose from, buyers are sure to find their dream Orlando, Lakeland, Winter Haven or Tampa new home at Highland Homes. For more information, visit the Highland Homes website today.