Quote:
Originally Posted by MandoMan
“During the past year, The Villages built an average of 134 homes per month, down from its historical average of about 300.”
Prices for used homes began dropping in June of 2022 when interest rates began going up, especially for homes over $500,000. Many people who move here pay cash, but those who need a mortgage have a limit to what they can afford, and with higher interest, those people can’t afford as much. I put my house with a pool on a golf course up for sale three months too late. I was expecting $600,000, but it sold for $525,000. The speed of sales for new houses reflects this.
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I sold my house in March of this year (2023) for twice what I paid for it two years earlier when I built it. The first person who walked into see it bought it immediately. Sometimes, it’s timing and location. I was really lucky! As far as new home builds in TV, I’m wondering if you have those numbers reversed. There’s a very brisk pace of new homes being built down south, and I don’t recall seeing housing to this extent being built in 8 years I’ve been here.