People everywhere are saying that there’s no market for new construction,
but I don’t buy it.
With lots of resale inventory out there, new construction seems to be available and affordable – just take a look at our new construction listingson page 22. In addition to updates for properties included in last fall’s listings, we had quite a few new properties submitted. That’s great news, especially amidst consistent conflicting reports from real estate “experts” – one minute the market is rebounding, the next, we’re still bouncing along the bottom, still waiting to come back.
We went straight to Chicagoland developers for information for our cover story this month, which details what they see right now – as well as on the horizon – in terms of the new construction market. Yes, we are all up to date about the market shifts, but is it on its way back, especially when it comes to new construction? Debbie Beaver of William Ryan Homes is hopeful, and says buyers have renewed confidence in the market. In fact, William Ryan Homes is in growth mode right now, and is actively taking over other properties. Read more about what other expert developers think on page 18.
Sure, financing with new construction is harder to come by, but don’t worry, we tell every agent what they should know when it comes to financing new construction condominiums on page 26, so you and your clients have no excuses for not knowing the details. And if you’re struggling with selling new construction, read about how to market new construction listings and target buyers on page 20.
While the new construction market may never be like the boom a few years ago again, there are tons of great deals and a bountiful supply of quality housing. Buyers for new construction are out there, so stay informed. When developers start new projects again, agents should be ready!