Archive For The “new construction” Category

Labor Shortage Threatens New Construction in Greater Phila

Labor Shortage Threatens New Construction in Greater Phila

If you live in Greater Philadelphia, we bet that you probably see at least a handful of new construction communities everyday on your commute to work.  Some of the area’s most prominent builders (think Orleans, Ryan, Paone, Toll, and Philomeno & Salamone) are creating beautiful new neighborhoods throughout the region – but is it enough…

New Construction Update in Greater Philadelphia

New Construction Update in Greater Philadelphia

nThe stats are in, and new home sales were up 12.2% in 2016 from the previous year. While new construction is a popular option with many buyers, they come with a significantly higher price tag: the median price for a new home purchased in December was $322,500, compared to the existing home median price of $232,000….

The Pros and Cons of New Construction Homes

The Pros and Cons of New Construction Homes

Do you prefer the customizable, shiny “newness” of a brand new house?  Or would you rather move into a character-filled and quaint pre-existing home?  According to a survey by Trulia, approximately 41% of homebuyers prefer new construction if the costs were the same, whereas only 21% prefer an existing home, and 38% reported no preference….

Three Things to Know About Buying a New Construction Home

Three Things to Know About Buying a New Construction Home

There are plenty of new construction communities in Greater Philadelphia, ranging in price from $150,000 up to multimillion dollar homes. Buying a brand new home is a little bit different, though, so there are a few things to keep in mind before you begin the process. One of the most important things to consider is…

Why Aren’t More New Construction Homes Selling?

Why Aren’t More New Construction Homes Selling?

Most of the nation is experiencing a “seller’s market,” and Greater Philadelphia is no exception! Demand for homes has far exceeded the inventory of homes for sale, leading to fierce competition among buyers and steadily rising prices. As a result, new home sales should be flourishing, as more and more buyers flock to the market….

New Construction Sales Surge in 2015

New Construction Sales Surge in 2015

It’s official! The statistics are in, and 2015 was the best year for new construction since 2007 according to the Commerce Department. New home sales rose an impressive 9.9% year-over-year, and brand new homes now represent approximately 10% of all home sales nationwide. Plus, the construction sector added a significant number of jobs, and is expected…

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