There’s no crystal ball economists can use to forecast the
future (in fact, their pronouncements are often so vague you’d think they were
using a recently-shaken snow globe).
But Nutley housing prospects may
be headed for brighter days if we look for guidance from the people who back
their words with action: U.S. builders.
The almost startling news came out in the latest release from the Commerce Department: more
permits for beginning work on new homes and apartment complexes were requested
in March than for any other month in the last three and a half years! This
means that somebody – or, better said, a great many somebodies -- expect demand
for new housing to go in the right direction.
They expect this to happen at a rate that is
more than 30% higher than the same month a year ago, and that’s the kind of
jump that should send a message to those (investors, bankers, economists) who
rely on those building permit numbers to tell them something about what’s
happening in the real world. It could mean that buyers looking to purchase new
homes will soon have even more options.
The good news doesn't stop there. Not only have
more residential building permits been requested than in recent history,
groundbreakings on new residential construction in March 2012 were also more
than 10% higher than in the previous year.
The changing market conditions in Nutley are another reason the
role of your real estate agent is so important. Navigating the real estate
landscape can be a daunting task when you go it alone, but homebuyers have no
need to do that. My clients count on reliable assistance every step of the way
-- from deciding which home is the right fit, to negotiating the best price,
and finalizing the purchase. If you’d
like to learn more about how the Nutley new homes market looks
this week, give me a call!
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