Quote:
Originally Posted by DrMack
I’ve been reading these posts, I ask myself “What Crash?” Today I looked at the villages website. There are still 3 ea new houses for sale in Newell. I thought that development was long since sold out? Lake Denham and Dabney don’t look like they are selling any houses. We are building, and I hope the developer will still build all of the lots. The vibe isn’t the same as it was a couple of months back.
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I am not certain the OP stating the housing is crashing is the correct wording. Slump, slow, or stagnant seems more appropriate. If this continues throughout the winter, the Developer will most likely reduce the building of spec homes. This way, he can keep home prices up. Less homes, more demand! This will place him back in the driver's seat. At this moment, the large inventory is placing buyers in control.
A crash could occur if preowned homes saw a significant price reduction, as well. Right now, this does not seem to be the case. Will it happen? I guess we have to watch and wait.