New Construction and Cincinnati Real Estate
September 29th, 2009 categories: For Buyers, Stats
One of the victims of the recent financial meltdown is new construction of single family homes in the greater Cincinnati market. The time when builders, large and small, built homes on spec and then waited for buyer to come along has passed. If you new to the area and want to purchase new construction your realtor is probably scrambling to find properties to show.
As the market gains momentum, some builders are feeling a little more confident and have begun to build homes on spec. A spec home is one built without a buyer contract. Spec homes typically cater to the general market (more buyers) and often defer carpet, cabinet and counter selections to the buyer when a contract is signed.
The chart below is data on single family homes from the Multiple Listing Service of Greater Cincinnati:
It looks like Butler County has the most affordable new construction available- but don’t get discouraged. If you have your heart set on building- figure out where you want to live- then look for a builder.
Having trouble deciding and need more information- call or email.
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