The State of New Construction in Greater Cincinnati Real Estate
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One way to track the health of Cincinnati’s real estate market is to look for new construction. Lots of new homes going up is a sure sign of confidence in the local economy. It’s when builders know if they build a “spec home” (a home that is not sold before construction) it will sell in a relatively short time frame.
According to the Multiple Listing Service of Greater Cincinnati 230 newly constructed homes have sold/closed during the first 6 months of this year. It’s important to note that not all builders or new homes are listed in the Cincy MLS- however using the data from the ones that are listed paints a picture of slow recovery for new construction in greater Cincinnati.
It’s hard to predict whether the sales numbers for newly built homes in 2012 will exceed 2011- but with 676 new homes currently listed in the MLS and I think we have a good chance to stop the decline and maybe even gain a few sales over last year.
Investing in real estate can be a tricky proposition if you get your emotions involved. Real estate deals will come and go and if you sacrifice your emotions on any given deal, you will surely make unwise choices or spend more time on regret than business. Keep your focus on the end result, not the deal that you missed.
Great point. Keeping your eyes focused on the goal speeds the process along.