New Home Construction and the Southern Oregon Real Estate Market
Once again, there is good news and bad news to mull over as we patiently await the coming recovery in Southern Oregon real estate market. The good news is that permits and actual starts for single-family new home construction went up nationally by 3.6% in the month of April when compared with March. The bad news is that the same number is down by 80% compared to the high-water mark in January of 2006. But improvement, like time itself, marches on. And for that there is joy not only in Mudville but in the entire Southern Oregon real estate market.
It has been my recent experience that out-of-work contractors in the Southern Oregon real estate market who specialize in new home construction are making transitions, either to other careers or to other locations. As minor as the statistic of increasing starts and permits may seem to be, it is the start of something we can build upon in order to restore confidence. To look at it another way… we’re bouncing off the bottom and have nowhere to go but up.
The recovery of the housing sector is tied to the reduction in inventory of foreclosures, and builders of new home construction will not initiate new projects while they sit on unsold inventory. But one thing is certain … the projected growth rate for the population of the United States guarantees a future need for new homes. The regrettable news regarding housing data shouldn’t come as a surprise considering the depth of the Housing Sector crisis. And we must all decide how to take the news… is the glass half empty or is it half full? For me, the glass is half full and rising.
A Socially Conscious Real Estate Consultant
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This entry was posted on Wednesday, May 27th, 2009 at 9:00 am and is filed under the category Grants Pass Real Estate, Green Real Estate, Michael Masters, Real Estate, Southern Oregon Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
