According to a recent report from The Community Impact Newspaper, homebuilders in Houston have remained busy lately, but many are becoming upset with new fees and regulations, which could threaten their business.
Overall, the Houston real estate market has led the nation in terms of new home starts, and values of Houston properties have not dropped, the Greater Houston Builders Association reports. However, the costs to build new homes have increased due to the new fees and regulations. In addition, builders are unable to raise the price of their new homes given the ongoing economic strife. As a result, sales of new homes have reached a 48-year low, the National Association of Home Builders reports.
While the market doesn't favor homebuilders, it does make properties more affordable for potential homebuyers, the president of a local homebuilding company told the new source.
"Our consumers are getting the very best home that has ever been built at the lowest price possible," the executive relayed to the newspaper.
Despite the new fees and regulations, homebuilders remain optimistic about construction, however, as home prices will have to increase sooner or later as the cost of building properties rises.
Courtesy of 2M Realty News