The #1 Place to Buy a Home for Less
Sales are slowing. Prices are closing below asking. Cost of ownership is rising. Where is the #1 place to find a home for less money? The answer may surprise you. Hello, my name is Dennis Maynard. I am a real estate broker in Los Angeles. Please don’t for get to like subscribe and follow. Let’s face it, the cost of borrowing and ownership has forced buyers out of the market. Is it the end? No.
Home builders are still building houses, although at a slower pace now. However, the vast majority of purchase cancellations are with, you guessed it, home builders. This means the current pipeline of homes under construction still have to be completed, and the number of completed units are not selling.
This is called a supply demand imbalance. Side note, supply side economics supports the theory of more supply equals lower prices while maintaining demand rather than destroying it. There are many home buyers on the sidelines, and they will return when it is feasible to own. We are still at extremely low inventories. So the number one place to buy, new construction homes. Watch out for homebuilders to offer discounts, incentives, and in-house financing to sell off their inventory, which will be over 350,000 units nationwide. Are you thinking about purchasing a home. A home is a great investment in an inflationary environment. Please reach out so we can discuss your situation and get you the right property at the right price!