New Home Inventory UP in Tooele County UT
There is a nice selection of spec homes, homes under construction and listings of homes being built in the area. Plus there are quite a few building lots for sale for the new house buyers that want to buy a lot and then pick a plan and have one of the fine local builders construct it for them.
Lots for sale in Tooele County are generally cheaper west of Salt Lake than they are in Salt Lake County, and often quite a bit larger.
Here are listings of new homes for sale in various areas of Tooele County.
This is not a real estate phenomenon happening only in the Utah market. According to the following KCM article which i re posted on my facebook page, new construction is helping ease the strain on home buyers finding small selections of previously owned homes listed in many areas.
Here is what KCM had to say.
According to the latest report from the US Census Bureau and the Department of Housing and Urban Development, newly constructed home sales jumped 5.7% month-over-month and 21.6% year-over-year to an annual pace of 552,000.
Many buyers are looking to the new homes market to make up for the lack of existing home sales inventory. National Association of Home Builders Chief Economist David Crowe explains:
Regionally, the Northeast led the way with a 24.1% increase in new home sales, followed by the South (7.4%) and West (5.4%). Sales in the Midwest declined by 9.1%.
The inventory of new homes for sale currently sits at a 4.7-month supply down slightly from July (4.9) and significantly from August 2014 (5.4).
Buyers who purchased a new home were willing to spend more to get the amenities that they wanted. The median home price for new homes was $64,000 higher than existing homes in August at $292,700!
Approved applications for building permits increased 3.5% over July and 12.5% over this time last year. Permit applications are seen as a strong indicator of builder confidence in the market.
Buyer demand continues to outpace inventory of homes for sale. If you are thinking of selling your house this year, now may be the time to list before builders have a chance to replenish the supply of new homes.
If you are one of those home buyers frustrated because of the lack of inventory to select from, you may have found this article helpful and you would like help starting to search for a newly constructed home, or a house under construction.
If so, call me; Berna Sloan 435-840-5029.
Let's get together and see where new home inventory is up in Tooele County UT.
Blog Archive2017-06-20 05:46:38
About Tooele Real Estate Week # 24
4 Things to Know about Buying New Construction In Tooele Utah
Have Your Agent Answer These Questions
Real Estate Info in Tooele County Utah
More Important Real Estate Information About Tooele County
On the fence about selling in Tooele County? Jump!
Week #17 Post About Tooele Real Estate
What Does Solar Do To Home Values in Tooele UT
Appraisals Can Be An Issue in a Hot Market
Week #16 in Tooele County Real Estate
Look At Buying a Home Now or Later in Tooele UT
5 Reasons To Sell Your Tooele County Home
New Home Construction in Stansbury Park UT Heating
Get 100% Financing in Tooele UT With VA Loans
Wondering How You Can Buy A Home in Tooele UT
Tooele Utah Real Estate Information
Big Week in Tooele County Real Estate #14
VA Loans in Tooele For 100% Financing
Grantsville Utah Homes Selling Fast
Buying a New Home in Tooele UT
Tooele UT New Home Sales Heating Up
Is Tooele County a Home Buyer or Sellers Market
Tooele County UT Has 6 Bedroom Homes For Sale
About Buying a New Home in Tooele County
Berna Talks About Tooele Real Estate
Click here to see ALL articles.