It’s time to buy a new home in Sacramento. According to the Sacramento Business Journal, and Realtor.com, the Sacramento region is set to have the 4th hottest housing market for 2017. We think that’s fantastic news! If you’re ready to find your next new home, it’s great news for you too, as long as you get into the market sooner than later.
Demand to Buy a New Home in Sacramento to Heat Up in 2017
The Sacramento region is set to grow! Job growth in and around Sacramento means that more people have their eye on homes throughout the area. Demand for more homes at a projected 4.9 percent increase and a supply that can’t keep up with the growth rate means that competition for available homes will heat up. This equals a projected 7.2 percent rise in home prices coming in the near future. Add in the expected increase in interest rates and you have a recipe that can make finding your dream home a little tricker the longer you wait.
There have been a lot of questions as to why the supply isn’t keeping up with the growing demand. The simple answer is that there’s a shortage of construction workers. Eight years ago, the downturn in the market saw an estimated 30 percent of construction workers seeking other fields of employment. Even though the market has turned around, Fortune.com says that the association estimates that there’s an 81 percent increase in unfilled construction positions. That’s around 200,000 unfilled construction jobs in the U.S. This makes getting new homes built a difficult task for many new home builders, but luckily, not for Tim Lewis Communities.
We’ve been working hard to continue to build new home communities that offer our buyers an exceptional product, in desirable areas at competitive prices. This includes several new communities in the Sacramento region. Recently we’ve opened Vista Ridge – our award winning new home community in Roseville, Crowne Point – our premier new home community in Rocklin, and Creekside – our cozy community of just 32 homes in East Roseville. We’ve also opened communities in other desireable areas such as our Shoreline and Crystal Cove collections of homes set within the innovative and master-planned community of River Islands in Lathrop, and our Promontory and The Estates at Silver Creek collections of semi-custom, luxury homes in San Jose… and we have more new communities coming soon!
Don’t miss your opportunity to find and own your dream home, especially since the competition will be tougher! Click here to view all our California communities and contact our sales specialists. They’re ready to give you a tour and show you your next new home now, before the market gets too hot.