More builders report that they're raising prices on new homes. 23% of 231 builders recently surveyed say they raised their prices in the last month of 2013. The percentage of builders who say they lowered their prices fell to 8% in December.
It's still not back to to the aggressive pricing increases of early 2013. In early 2013, more than half of the builders surveyed reported raising their prices, with some hot markets posting double-digit increases from 2012 levels. But price increases slowed during the summer months as interest rates rose.
Tom: Locally, we are seeing a steady rise in new construction prices, but not to the same extent that existing home prices and waterfront land have increased. New construction is more often becoming the choice of waterfront buyers looking to relocate here, or wanting to own a seasonal home. Our teammate Kim, is our new construction specialist, so feel free to touch base with us if you need more information.