This month, Washington saw the fourth largest drop in inventory in the U.S., down 34%, according to Realtor magazine. With Seattle heading the charge and the Eastside enjoying more sales, many think we’ll follow Seattle’s lead and jump ahead of current numbers significantly.
While short sales and foreclosures are still in ample supply, it’s well-maintained resales and new construction that are the hot commodity right now. With the lull in construction during the downturn, buyers are all of a sudden making great demands for new homes, desirable as they are as an investment and for first time homebuyers who just years ago may have been priced out of the new construction market.
The Eastside has always been a prime place to live and with the drop in prices over the past few years, buyers are coming out of the woodwork to call our communities home. Not only are they looking to move in, they’re enjoying an affordability in higher quality homes previously unavailable to them – that is, if they can find it.
For our part, we are working as quickly as possible to fill the gap between demand and current inventory. With new construction homes at the top of everyone’s wish list in a market with such low rates, you can bet that you’ll be seeing a lot more of Encore Homes in the near future.