Posted on March 24, 2016 - 05:48 AM
by CO Dream Homes
The inventory is lacking on all levels, but especially for first-time home buyers, which as defined in this article are buying homes averaging $212,500. Why isn't anyone building these types of homes anymore? Its hard to say...probably not as profitable. Its only 16.4% of our inventory, and its supposed to be 33%. They could go back to the good old days in Parker and Denver CO where they built entire streets at a time, and it wouldn't be enough. If you are selling this type of home you are in the drivers seat for sure. I have a buyer in this category and the homes we write offers on are usually getting 20-30 showings the first day, and 8-10 offers, and the winning offer is ALWAYS above the asking price...meaning prices are still going to rise unless this madness stops.
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