Featured Home: Sexton Griffith Custom Builders was presented with a 2017 Bridge Award, presented by GBS Building Supply, for Best Kitchen, New Home $2 million to $4 million, for their project on East Fort George Way.
By Matt Shouse, APB, President, Home Builders Association of Greenville and Partner, LS Homes
The housing market has become very tight nowadays. In most places, prospective buyers are seeing fewer and fewer properties, especially ones that meet their budget. Based on this Housing Trends Report finding by the National Association of Home Builders, those who plan to buy this year should not expect their choices to grow.
This issue is also very common here, around the Upstate. According to the Greater Greenville Association of REALTORS®, the current time on the market for residential listings is less than 100 days. Further, based on building permit data collected by the Home Builders Association of Greenville, new home building activity has only returned to pre-recession levels in just one Upstate county: Spartanburg County.
As a result, affordability continues to be a concern for home buyers. Nearly 8 out of 10 prospective buyers in the survey said fewer than half of the houses they saw in their search were priced within reach. The survey shows that the average new home search takes more than three months.
In fact, 49% of those who have been looking for at least three months, had not yet purchased a home because they were unable to find one that fits their budget. The survey also found that 44% of buyers prefer an existing home to a newly built one. But almost as many as 38% have no preference, while 18% prefer new construction. These findings prove that either a newly built or existing home would suit most shoppers. An uptick in the supply of homes, whether new or existing, will improve the picture for most buyers — as long as the new supply comes in at an affordable price.
So what happens if people hoping to buy don’t find what they want in the next few months? 61% of those polled said they will continue looking for the right home in their preferred location. Some said they will expand the area of their search, accept a smaller or older home, or pay more than they originally intended. Just 18% said they will give up and try again in the future.
Want to learn more about the Upstate Housing Market?
The Annual Upstate Housing Market Forecast is set for Tuesday, January 22, 11:30 a.m., at the Greenville Convention Center. The keynote speaker is Dr. Robert Dietz, Chief Economist of the National Association of Home Builders. To register, visit HBAofGreenville.com.
Save more on your next vehicle purchase. You have earned discounts through your membership from the Member Advantage program.
FCA USA, LLC Chrysler, Dodge, Jeep, Fiat, and RAM
HBA members and their employees can combine this stackable $500 cash allowance with most current retail incentives and choose an On The Job program allowance. Plus, same household family members receive a $500 cash allowance, stackable with most local and national retail incentives, toward the purchase or lease of a vehicle.
General Motors Chevy, Buick, GMC
Members can save up to $250/$500/$1000* on the purchase or lease of most new GM vehicles to association members. Just visit your local Chevrolet, Buick or GMC dealer, choose an eligible vehicle and present your Proof of Membership form.
Kevin Whitaker Chevrolet
Members of the Home Builders Association of Greenville can leverage their membership discount from General Motors through the Member Advantage program at Kevin Whitaker Chevrolet, a members of the Home Builders Association of Greenville.
Need to rent a vehicle?
Check these discounts at Avis Car Rental, Budget Car Rental, and Hertz Car Rentals.
APP Fuel Card Program
The APP Fuel Card Program is a vast network of fueling locations, industry-best purchasing controls, and online management tools that provide fleet managers the security and operational control required to run a fleet of any size.
Membership has its advantages.
Your HBA is pleased to announce a relationship with two great rental car brands, Avis and Budget. Each offers discounts up to 25 percent to members along with additional coupons including free days and upgrades on the dedicated web links that the companies have created for HBA members.
Avis, our car rental partner offers up to 25 percent off to all HBA members for rentals throughout the world. Along with the discounts, you can enjoy additional coupon values from them including UPGRADES and FREE DAYS. We also encourage you to enjoy the complimentary VIP service which allows you to bypass the counter and the lines and go directly to your vehicle in most airports in the US, and even internationally. Make sure you enroll for PREFERRED service on our exclusive site avis.com/nahb. Currently there is a $20 off weekly coupon that can used in additional to the discounted NAHB rate.
Budget, the nation’s best value brand rental car, is a true partner of your HBA. With discounts up to 20 percent and their great new cars and trucks, your membership brings you a real value. Also check out the additional coupons on our special website budget.com/nahb to make your rental even more affordable. Tired of standing in rental car lines?? As a member of NAHB you can enjoy VIP service complimentary – just click here to enroll. Check out the website and find a FREE SUNDAY coupon to use with your weekend rentals.