Home Buyers Frustrated by Lean Housing Market Turn to New Construction
• As existing home inventory remains low, developers are rushing to build new homes to meet demand
• Buyers like Joel Adler are frustrated with the lack of options for existing homes, so they are turning to new construction instead
• The gated community Valencia Sound in Florida opened in 2019 and is attracting buyers like Adler
• The broader housing market has been gloomy due to high prices, rising mortgage rates, and low inventory
• While the existing home market struggles, new construction is a rare bright spot seeing growth