Quote:
Originally Posted by kbrkr
However, I am concerned. I'm seeing many many homes for sale. Prices are dropping and I see auction and foreclosures. I'm seeing the developer drop the prices of the new homes down above Eastport, and those new homes which are going up are going to dilute the market.
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This is a different world since say pre 2021 - when the 1st turnpike bridge opened.
Developer was building new homes south of 44 and TP, but they weren’t really going all out. Once the turnpike bridge opened and they bought all that land moving south, things changed.
There will always be a significant number of new construction available from the developer - at least for the next 20 years.
That, in turn puts pressure on the existing re-sales. This market equilibrium will last into the foreseeable future.
Interest rates are around 6/7/8%, not 2% like in 2020, but still low.
Don’t worry about timing the market, just come and enjoy.