Big Surprise?

Of course not. Housing starts are down 48% from July 2008 over July 2007.

Thank goodness. I’d hate to think that builders were continuing to overbuild.

I have seen a few new construction homes that have gone into foreclosure and some local builders that have teetered on the edge renting new construction home out.

While the starts are down we still have large inventories (as of this writing it was 34 months) of new construction homes in Salem. I know from talking with contractors that building of spec homes has come to a standstill. Builders are waiting until they have an order before heading down that path.

So…if you are thinking about new construction, there is a lot out there.

(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)

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  3. New Constuction in Salem Oregon-Delusional Thinking…
  4. Monthly Stats for April for Real Estate in Salem Oregon
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