BUILDERS SHYING AWAY FROM BUILDING STARTER HOMES
Posted by Sheryl Hunter
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According to REALTOR Mag, Builders Are Shying Away From Building Starter Homes
The median new home price for 2015 is well over $280,00 in most markets.
Three Reasons why starter homes are losing traction are:
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Land costs are higher
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Higher fees in building such communities. Builders often face significant infrastructure and expanded support service costs, which could add an extra 20% to 25% of the cost of a new home.
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The typical "entry-level" buyer may not want a "starter" home any longer.
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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