Bash & Co. Sotheby’s International Realty: Should I build a new home?

When it comes to real estate investing, accurate market predictions are imperative.

It is hard to believe that October is here, and we have welcomed a new season in Kansas City! From a real estate perspective, third quarter numbers are still being tabulated and the market continues to be in flux regarding inventory and pricing. In this week’s column, I wanted to touch on the topic of new builds and what home buyers can expect when building a new home in 2021 and in the coming year.

Not surprisingly, the high demand and low inventory of available homes also effected the demand for new construction. Buyers who struggled to find a home to suit their needs asked themselves the question “Should we just build a new home?!”. If you were one of those people, you were likely met with a few concerning realizations. Prices for materials skyrocketed, available lots were few and far between, and general demand was high. Let’s look these topics and what to expect going forward.