New home construction is one of the main indicators real estate experts analyze to help determine the health of the overall market. It also adds to the stability of the national economy as economists predict that each new house built adds three jobs. The St. Louis real estate market is experiencing a similar increase in new home construction as we are seeing nationally, adding validity to the theory the housing crisis is over.
2012 is the first year in over seven years that new home construction will add to the gross domestic product. August 2012 has seen a surge of 29.1% in new home starts from the same month a year ago. This is encouraging but is still just a a third of the 2.27 million high of January 2006. Experts predict the trend of increased new home construction to continue but not as rapidly as it did in the last decade.
Are you considering buying a new home or building your dream home? The real estate professionals with the Linda Frierdich Real Estate Group are encouraged by the positive market trends. Contact us today to learn how we can help you find your next home.?
Image via: Freedigitalphotos
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