Zillow Cites Lack of Homebuilding for Rising Prices, Buying New-Construction May be the Solution
According to a recent report from Zillow.com, the lack of new-construction homes has played a large part in the skyrocketing prices for existing homes. What’s more, the report noted that inventory is significantly less for entry-level homes.
The slowdown in new construction is a result of the housing collapse that started in late 2006. At the end of that year, there were nearly two million new-construction homes completed. In 2011, the number dropped to just 600,000, and has remained below the historical average of about 1.5 million.
Now we know what the issue is and how it all got started, but what’s actually important is the solution.
The Solution to Low Inventory for Entry-Level Homes
Since lack of new construction has led to low inventory, building a new community is the best solution. Luckily for those wanting to live in Lake Worth, the Holiday Organization has done just that with the townhome community of Colony Reserve.
Colony Reserve showcases two spacious townhome models to choose from. Each boasts 1,566 total A/C square feet, with three bedrooms, 2.5 baths, and a one-car garage.
Every Colony Reserve home is equipped with an extensive menu of luxury included features, which help make this community the best value in The Palm Beaches. Prices start at the unbelievably low price of $256,000, making it an ideal entry-level home for first time buyers.
While Colony Reserve an ideal solution for those looking to buy a home without navigating the hurdles that low inventory poses, the opportunity to own in this community won’t last forever.
Visit the sales office any day between 10AM and 5Pm to claim your place in Colony Reserve while residences are still available.