Builder Confidence Is Up & New Housing on the Rise

It’s been a long time coming, but new construction builders are finally entering the marketplace again as consumer demand for housing increases. In fact, according to the National Association of Home Builders, national housing starts at the end of 2012 soared 12.1 percent to an annual rate of 954,000. This figure represents the highest it has been since June 2008. The increase included a rise in single family home starts and also a much larger increase in multi-family housing products.

The lethargic new home sales over the last few years means builders were refraining from new construction and the result is extremely small new home inventory levels. The rise in consumer demand will help fuel the job markets across the country as displaced construction workers will get back to work. Permits for home building, a future indicator of housing starts, also increased at the end of 2012, another positive sign of steady growth ahead.

Locally this trend is definitely seen around town and certainly within Oro Valley we’ve seen builders jump back into the market with both feet. For instance, Meritage Homes has had tremendous success with its product at the Vistoso Town Center at Rancho Vistoso & Moore Roads. Lennar is just rolling out its product at that location too, while both those builders have made inquiries into additional land for development in the area. Richmond American also has launched product at the Torreno subdivision in Rancho Vistoso recently, while Maracay Homes just finalized a purchase of land on the Southeast corner of Tangerine & La Cholla. This is good news for the housing market and general economy as well.

Stephen Woodall
REALTOR, GRI @ Long Realty Company
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.

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