With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
A lot of new buyers want starter homes but, alas, it’s not very attractive to builders. A starter home has to factor in land, labor, material, permits, profits and more… so while buyers want inexpensive homes, builders don’t see much of a profit in that sector.
But, overall, housing is on the mend and loan delinquencies are considerably down as new jobs help many homeowners again make their monthly payments. So foreclosures are considerably down across 45 states, while home prices are increasing, with February pending home sales hitting new 18-month highs and prices rising amid low inventory levels.