Competition Is Coming

Dated: 10/02/2017

Views: 269

Image title


The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.7% over last year.

How will this impact buyers?

More inventory means more options. Danielle Hale, Realtor.com’s Chief Economist, explained this is good news for the housing market - especially for those looking to buy:

"It's not spectacular construction growth, but it's slow and steady in the right direction. Eventually, the pickup in single-family home construction will mean [buyers] will have more options. Especially with the limited number of sales right now, more options are really needed."

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it

  2. A quick sale as buyers have so little to choose from

  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Hale said:

"As new construction continues to increase, home shoppers will eventually have more [choices] and a bit more time to make purchase decisions compared to today's quick-moving housing market."

Bottom Line

If you are considering the sale of your home, it might make sense to beat this new construction competition to the market.


Blog author image

David and Leslie Miller

South Walton became my home over 12 years ago when David and I married and chose to settle and raise our children in Point Washington. His family has deep root in the community and I feel lucky to li....

Latest Blog Posts

Reopening With Safety

As many businesses across the country gradually begin to reopen, it’s important to continue to take precautions to stay healthy. We have rounded up important guidelines for you to follow to stay

Read More

How To Price Your Home

 Your home is more than just a bunch of rooms under a roof. You aren’t selling your memories; you’re selling a house. This is where an agent can help. You’re the one who will set your

Read More

Buying The Beach House

With summer in full swing, the Emerald Coast welcomes visitors - many of whom are ready to shop for their own little piece of paradise. What now?Start by searching online. We have an extremely user

Read More

The Red Bar Rebuild

As most all of you know our beloved hangout The Red Bar in Grayton Beach suffered a fire last year on February 13, 2019. The Red Bar was always known by locals as the ultimate Sunday

Read More