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NEW Home Market Report 2021 Q2



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From Buyers pacing the floor waiting for their New Home to be completed  due to long New Construction delays;  
Builders battling supply shortages and sky rocketing material costs 
 TO record, double digit  year-to-date sales increases. 

Today we’re taking a look at the New Home Market- Second Quarter 2021. 
 What happened and why and where I predict it going.  

Get the Latest List of all New Construction Homes HERE
 
New Home sales fell 6.6% in June, following the downward trend we saw in April and May. Despite the recent cooling trend, new home sales are up 13.5 percent on a year-to-date basis. So how can that be?
 
According to the chairman of the National Association of Home Builders, "Sales continued to trend lower in June as some builders slow sales contracts to manage supply-chains, among longer delivery times and higher construction costs. "  
 
That makes sense, but When he said some builders are ‘slowing sales contracts’, I immediately tuned into that!   
In sec I’ll tell you whats happening in the Greater Lakeland area and what I’m experiencing with some builders who are ‘slowing sales contracts’. It’s actually a good thing. 
 
The good news is: Lumber prices have shown some improvement. But it takes time to translate into lower construction costs.  
So how are “sales” up? And how does this effect  pricing on new homes going forward? 
 
First let’s clarify what a constitutes a ‘new home sale’. 
A new home sale occurs when a sales contract is signed and a deposit is accepted.  
That home can be in any stage of construction: not yet started, under construction or completed.
    
Some builders are slowing contracts until the home construction is stage 5. This way they are able to lock in a sales price and gauge a tighter completion date which will enable buyers to plan much better. 
 Inventory of homes available for sale, meaning homes released to be built,  but not begun construction was up 84 percent year-over-year, a clear sign of supply-side limitations in the building market. 
 In contrast, completed, ready-to-occupy inventory is down 44 percent. 
 
 I predict that number will increase for Q3. 
Because of supply and pricing challenges builders are limiting the number of available lots in planned developments. Yes, the land is there, and plans are in place to build.. but getting the permits, supplies and labor to builder them is the trick right now. 
 

The good news is: Because of the correction of limited supplies, and consistent consumer demand Local Builders are doing a good job trying “catching Up”.. 
 I predict we will see marked inventory increases starting the first quarter of 2022. 

The not so good news is: Prices of New builds will continue to rise.. But Not at the pace of existing home sales, where total craziness is happening right now. Plus, like trying to buy an existing home, often you’ll be competing with other buyers. 
One question I get a lot from home buyers that have already experienced the multi-offer bidding wars in attempt to get their offer accepted on an existing home: 
How do builders choose which offer to accept in a multi offer situation?  

For one..It’s not about the purchase price. New planned development home prices remain the same. The price is the price. 
 What the builder looks for is financial strength of the buyer and the highest likelihood the buyer will close.   
It’s not like when buying an exisiting home where you get into contract and typically close in 30 days..With New Construction, you have a projected completion date that can and most likely WILL change.  
So a builder is looking for the offer that has the highest probability of financial endurance during the build time.  
Plus, they are requiring a larger Earnest Money deposit.
 

Of course if you are cash buyer, your offer will go straight to the top of the list. But if you are financing and you have a high Debt to Income ratio, minimal down payment, and a credit score in the 650 range..Chances are you may not be the choosen offer. 

All in all the forecast for New Construction looks very favorable for the patient home buyer, especially in the next 2 quarters. Interest rates are predicted to remain historically low, builders are still offering to incentives to pay towards your closing costs and more inventory is on its way!  
If you’ve been following my New Construction video series, you already know the importance of always having your own representation BEFORE going out to look at new homes.  
But,For those of you watching for the first time, I invite you to check out my New Construction series to learn how you can save money, learn about the builders and how to  make smart decisions when buying a new home.  
I’m Lisa Kelly, Until then, I’ll see you on the next one. 
 
 

 
 

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What my clients are saying  

My experience while purchasing my first home was the best experience I've ever experienced. With Lisa's guidance it was a stress free experience. She made sure I was comfortable and understood every step. She gave her opinion from the heart. You can tell she genuinely wanted you to have the home you desired. She is very personable and that's great when you are purchasing a large investment. I am forever grateful of her help. So if you are looking to have a wonderful experience while purchasing or selling any property Lisa Kelly Realtor is the way to go.

 

~ Candace Engram

Candace Engram ????? 18 weeks ago My experience while purchasing my first home was the best experience I've ever experienced. With Lisa's guidance it was a stress free experience. She made sure I was comfortable and understood every step. She gave her opinion from the heart. You can tell she genuinely wanted you to have the home you desired. She is very personable and that's great when you are purchasing a large investment. I am forever grateful of her help. So if you are looking to have a wonderful experience while purchasing or selling any property Lisa Kelly Realtor is the way to go.

 

~ Candace Engram

Greg Raymond ????? 43 weeks ago Finding and buying the right house can be a difficult and daunting process. When my wife and I found our home online, we needed someone local to the property to assist us as we were out of state. Lisa came recommended by a local acquaintance and she was quick to respond to our call. She was collaborative and professional throughout the process, and was attentive to our needs and questions through closing. I would certainly recommend her!

 

~ Greg Raymond

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Tom and Kim Manske

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Kim Manske

Kim Manske ?????Aug 21, 2020 We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Joanna Grizzard

Sidney Wyland Lisa Kelly was our realtor that helped us with our move from Utah to Lakeland. She is a very good resource for us in Lakeland and helped us buy our new home. We found Lisa on the internet. She has helped us with all the contacts and scheduling to insure all things here went smoothly. The closing on our home was completed on time which was very important as we had are household goods being delivered from two different states. She also continues to be there for us for any referrals or help we may need here locally. I would highly recommend her to anyone buying a home.

 

~ Rick and Sidney Wyland

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee and Frankie Brown

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill and Patricia Crabb

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill & Patricia Crabb

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee & Frankie Brown

01/03/2017 - shunter317 Bought a Single Family home in 2016 for approximately $175K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is an exceptional agent as she knows real estate law and the local market. She communicates and is extremely responsive to her clients questions and needs. She walked us through a complicated contract. We consider Lisa a new friend.

 

~ What Others Had to say

Highly likely to recommend 08/09/2016 - HappyBuyerNEOH Bought a Single Family home in 2016 for approximately $225K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I highly recommend Lisa Kelly! She was awesome to work with through the whole process. Her communication and promptness went above and beyond my expectations. Working in the mortgage industry, I see all types of realtors, if you want a genuine, awesome, go getter- she is your girl!

 

~ What Others had to say

Highly likely to recommend 10/27/2014 - jessbparker Bought a Single Family home in 2014 for approximately $75K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I cannot say enough about Lisa Kelly. She helped my husband and I buy our first home when we had limited funds and difficult circumstances. She is extremely knowledgeable about homes, market, taxes- anything you could want to know. She is also an excellent advocate for her clients during negotiations, which really came in handy when you're a nervous first-time home buyer.Less

 

~ What others had to say

Highly likely to recommend 02/22/2014 - par167 Bought a home in 2014. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa Kelly is the hardest working woman I know! If you are in the market to buy or sell take it from my personal experience she delivers results!In Polk County or anywhere else for that matter you will be hard pressed to ever get better service. Paul Renner.....

 

~ What others had to say

Highly likely to recommend 02/25/2012 - user027478 Bought and sold a Single Family home in 2011 for approximately $275K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is the most professional realtor I've ever worked with... she's direct, honest, highly-knowledgable, very responsive and a consummate professional. She played fundamentally important roles in helping us to sell our house in a tough market. She's a hard worker and also gave us great advice and we were able to sell after listing for about 30 days. She then helped us find and close on our dream home. Her persistance and negotiating savvy helped us buy a house that was not a very convential listing. If we'd had an average realtor, we'd have been a lot less successful with both our deals. I'd recommend Lisa to anyone who wants to work with a genuine professional. She could write a book on what it takes to be an outstanding service provider.

 

~ What others had to say

02/09/2012 - Alyson7707 Bought a Single Family home in 2009 for approximately $125K in Bartow, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: We absolutely loved our experience with Lisa.. She is incredibly knowledgeable and dedicated to finding the home of your dreams. We couldn't be happier with the home she found us or the time we spent with her--she made the experience exciting and easy. We do not hesitate to recommend her to friends and family and will absolutely work with her in the future. Thanks again Lisa! -Michael & Alyson Elrod

 

~ what others had to say

Highly likely to recommend 02/08/2012 - AimeeWeed Bought a Single Family home in 2010 for approximately $100K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa was always quick to respond to my questions. I honestly think that my family and I would not be in this wonderful house without her hard work. She is honest, not afraid to give her opinion in a helpful way, and she is very knowledgeable in all aspects of her job.

 

~ what others had to say

Wonderful wonderful experience. Lisa is what I call a dream maker. I had the dream, and she made it a reality.Lisa's hard work, her quick response, her compassion in knowing I was a single mom purchasing my first house, has earned my loyalty in using her as my realtor for life.

 

~ what others had to say

Highly likely to recommend 03/09/2011 - reedswife11 Bought and sold a Single Family home in 2011 for approximately $75K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: This woman is amazing, we have run into every road block imaginable and she has negotiated our problems quickly and effectivly everytime. Always available and Always puts her clients first

 

~ what others had to say

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