Daily Archives March 8, 2019

A Brief Overview of Residential Growth and Custom Home Communities

Residential growth is expected to continue over the next decade. This will particularly be the case in suburban communities. Over the next ten years, for example, an 80% increase has been predicted in these specific areas. According to the Harvard Joint Center for Housing Studies, household growth is also predicted for the Millennial age group, with 23 million new households expected. When it comes time to purchase a home, however, a significant number of individuals are choosing new home constructions.

Purchasing Trends for New Home Constructions

New home constructions continue to be in demand. In 2017, for example, the U.S. Census Bureau reported that there were 612,000 new home constructions sold. These new constructions greatly appeal to first-time home buyers. Recent data indicates that this applies to approximately 32% of the individuals that are planning to buy a new home. The National Association of Realtors reported that 34% of recent home buyers chose a new con

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