The Big Build Up…
After the Big Let Down
by MIKE HALL, Owner/Broker/Agent
In the early 2000s there was a big boom of construction in the Louisville area. Shortly after, the housing market crashed leaving hundreds of builders and construction companies floundering.
As the demand for housing in the metro area has increased and existing housing is in short supply, the market for construction has slowly improved. This seller’s market is really paying off for the construction professionals that made it through the crash. Buyers are looking for homes that fit their budget and meet their needs. Often new builds fit the bill with the added bonus of allowing the buyer to pick the finishes and even modify floor plans. In addition, new builds are happening in areas on the outskirts of the city that offer more amenities geared toward families.
As home buyers rebuild their credit and stash cash for a down payment, builders are scrambling to keep up with the demands. With less than half the number of construction companies in the Louisville area as pre-recession, those that survived are constantly working. Even with a constant stream of work, it is impossible to keep up with the amount of housing needed that the explosive growth of the metro area has produced.
If you are looking to buy new construction, you should get with a Red Edge agent, and check out your options. You may be able to get your foot in the door of your dream home before you know it!