Why New Residential Construction May Be Your Best Option

by Robin Anderson Real Estate 10/10/2021

Photo by Nicholas Lim from Pexels

People are buying new construction homes again, and experts expect the trend to continue. But why do analysts believe new construction is on the rise? Several factors are coming together.

Quarantine Fatigue

In the housing industry, there has been overall growth in the purchasing of single-family homes. Some of this buying activity is the result of the pandemic. Many people found themselves in cramped apartments with no yard and no ability to enjoy shared community spaces like playgrounds, tracks, sportsplexes and gyms.

This left many people eager to make some elbow room for themselves.

Limited Inventory = Skyrocketing Prices

With more people moving out of cramped condos and apartments and those in housings desiring to stay, we see a housing bottleneck. There are fewer houses than people who want them, and this is driving existing home prices up.

Builders meet this demand by increasing the number of new builds to increase the inventory while also benefiting from the rising prices. The market has cooled slightly as many developers have bought up land and builders have jumped into action, creating more competition among themselves. However, the demand is still there and higher than usual.

More Remote Work

It's no secret that a lot of companies sent their employees to home offices during the pandemic. But what you may not realize is that a large number have already confirmed that they will be keeping a percentage of employees remote. This is driving new construction home buildings in two primary ways. 

First, when people can work from anywhere, they can move anywhere, including their dream homes, wherever they may be. Second, if you're working from home, you want that space to be the ideal workspace, so many are moving out of cramped existing homes and apartments and into more expansive dwellings. 

Time to Move Away from the Tiny Home

The Tiny Home trend may recover after the pandemic. But for now, living in a tiny space, especially if you're sharing it with another person is looking a lot less attractive. People are going big right now. They want open floor plans and lots of space to work out, work and play at home. This is driving an increase in the number of bigger single-family homes beginning construction.

New Residential Home Construction Trends

2020 has been a transitional year for every industry. We can expect many of the mindsets and consumer habits to continue well into the future as more people are thinking about what it means to live in a multi-family complex or city. The new construction may slow, but the desire for new construction is likely to stay with us for some time. 

About the Author
Author

Robin Anderson Real Estate

“My Passion is people and relationships and I promise to provide my clients with exceptional service tailored to their individual needs.” -Robin Anderson 

Robin is a Georgia native who brings her passion for people and her love of homes to work for her clients. She and her husband, Andy, have been married for almost 28 years and have two children, Ellen and Drew. They currently live in Fulton County, but Robin has also lived in Cobb County, Douglas County, Carroll County, and Coweta County. She has been integral to many real estate endeavors including designing and building several custom homes, remodeling homes, subdividing land, managing rental properties, and buying and selling properties. After spending two years in Cumming and Decatur working with a new home builder, Robin is excited to work with buyers and sellers in her own community. Although Robin is driven to provide outstanding service to her clients, she is acutely aware that people want to know you care about them before they care how much you know. She believes meaningful relationships bring immeasurable joy to the world, and she knows that real joy comes from faith in Jesus Christ. She counts her faith, family, friends, and community as her most treasured blessings. In our increasingly digital world, Robin understands the importance of multimodal marketing, so she and her team employ the latest research, marketing strategies, and technologies to ensure that their clients’ properties are positioned and marketed for success. With professionally designed advertising strategically placed in magazines, direct mail publications and flyers, and Internet sites, her clients’ properties receive the highest and most effective exposure in the marketplace. Robin is highly motivated but sensitive to the fact that buying and selling homes can be an emotional experience, so she makes it a priority to keep clients closely informed throughout the process and strives to produce quick results. She appreciates the opportunity to help her clients navigate the real estate process, and she aspires to deliver quality customer service that is both informative and positive.