The finishing touches are being put on the year 2023 and the last days of the year tick by. We are only days away from the New Year. Like every new year, there is uncertainty on what it will bring.
If you look over just the past 3 years we have seen the world go through a pandemic, an economic crisis, Interest rates went from historic lows to level not seen in decades, etc. But one thing that has stayed mostly steady has been the demand for housing.
Even when mortgage rates were near 8%, there was still a demand for homes, and we anticipate that to continue for quite some time.
Luckily, we have seen the stress on supply chain slowly get back to levels that are more normal. While we still have some home components that have lead times that are longer than pre-pandemic, they are at least reasonable. The down side to this is the cost for these materials are much higher than their pre-pandemic numbers.
Overall the cost to build a home has increased significantly over the past 3 years and buyers are looking for ways to help save money. In an article on the website CNBC late this year highlighted Modular home building as one way.
If you are in the market for a new home, we would love the opportunity to discuss the possibility of building a modular home.
From Sunrise Housing, Happy Holidays and Happy New Year