Greater Springfield MO New Construction Home Sales
The Greater Springfield, MO, area has been the fastest growing area in the State of Missouri for the past 10 years. With the downturn of the real estate market, new construction was the first segment of the market to be affected. Most builders stopped completely. Others tried to continue on, but were caught in the continued downturn and eventually went bankrupt.
Those builders that survived continue to build, but not at the rapid pace of the real estate boom from 2003 to 2006. It is becoming increasingly more difficult to find a new construction home, or even a home less than 5 years old for that matter.
The chart below details the number of home sales for 2010 v. 2011.
You can see the reduction in the number of new construction homes sold. The inventory has decreased as well because it is difficult for a builder to be able to compete with the prices of the existing homes and foreclosures.
But there are still buyers in the market that are not finding what they want....even with the large inventory available. For those buyers, a new construction home is still a desirable option, especially with today's fantastic interest rates.
If you are considering building a new home, be sure to check with a local REALTOR® who is familiar with the business practices and reputations of the builders in the area, and can help guide you through the construction process and ensure that your rights are protected.
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Lina Robertson Jones
Owner/Agent
RE/MAX Solutions
1715 James River Road
Ozark, MO, 65721 |
Mobile: (417) 844-7265
linarobertson@remax.net
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RE/MAX - Outstanding Agents, Outstanding Results!
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About the author: I am full-time REALTOR® with RE/MAX Solutions in Springfield, MO, and a member of the Greater Springfield Board of REALTORS®. I have helped hundreds of families in the Springfield, Nixa, Republic and Ozark real estate markets, whether buying a home, or selling a home. Visit my website at www.ozarks-realestate.com to search for All Springfield MO Area MLS listings. Want to know what our market is like? My website is also an excellent resource for current Springfield MO Area Real Estate Market Reports, as well as current market reports for Ozark, Nixa, Republic, and Rogersville.
Lina I really like how your Market Report looks. This is different from the one that you showed me how to do a while ago. Just did a blog called "Whether it is Good or bad News.Real Estate Agents still have to deliver the News. Thanks for sharing the Greater Springfield MO Area New Construction Home Sales.
Great information, and suggestions. YOU ARE SO RIGHT!!! There are a lot of buyers who are looking for new construction and it is like compaing apples to oranges when discussing the quality of building when comparing one builder to another.
Lina - A lot of builders in our area stopped too and in a few of the communities other builders bought them out. Great real estate market information for new construction in the greater Springfield area.