New Homes Market Update For 2024

 

New Homes Market Update For 2024

While Real Estate is locally driven, we do examine trends from a larger sampling of stats and forecasts.

According to VaRealtors.org, 2024 should see a slight uptick in New Home starts as A&D (acquisition and development) costs to Builder/Developers should see a decrease, following the Fed's rate reductions, predicted to take place from the middle to end of this calendar year.

Developers have already secured land at acceptable pricing, and will make their starts based on more attractive funds for building materials and mortgage loans.

In Hampton Roads, we are fortunate to have several New Homes Communities in varying states of progress: Some are just now moving dirt to prepare for construction, while others are opening new Model Homes sites, halfway completing projects, or nearing completion. We also have several new projects planned to begin construction over the next couple of years, offering a wide array of pricing for various budgets.

At TREG New Homes Division, we work with the Top Producing Builders in our area, bringing a variety of housing types, styles, and price ranges in the various cities, while offering the most skilled and knowledgeable Site Agents to assist in your New Home search and ultimately ...destination.

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