Dallas, Texas (PRWEB) June 17, 2013
As a homebuilding company, Grand Homes reviews the continuing trends in increased housing demand as a good sign for the economy, especially within the rapidly developing area of Dallas-Fort Worth, where this business is based. However, as many in the real estate market celebrate increased interest in homeownership and relaxed mortgage terms, Grand Homes notes that there are still many factors found within the market of which both consumers and builders should remain wary.
A recent article from The Dallas Morning News highlights some of these issues and states, “Jumps in new home development and construction costs have builders worried that their sales prices are outpacing buyer incomes. Dallas-Fort Worth new home prices in the first quarter hit a record high of $244,113, according to Dallas-based housing analyst Residential Strategies Inc. And with costs such as building lots, lumber and labor rising rapidly, the outlook is for more price increases in new homes throughout 2013.”
As a company that works as a contractor for individual consumers wishing to purchase semi-custom homes, Grand Homes reviews that these trends may not necessarily impact its customers, as they go through financing procedures ahead of time. However, the company does note that larger construction and development projects are likely to be impacted by inflation rates and higher material costs.
In a recent press statement, Grand Homes asserts, “When you add in the current rising costs caused by extensive labor shortage in the contracting business, there are a lot of new expenses that can be passed onto consumers. If builders are not careful, they may end up producing too many homes that Americans cannot afford just yet.” Citing Residential Strategies principal Ted Wilson, The Dallas Morning News suggests, “lot prices in North Texas are up as much as 60 percent and lumber prices are 30 percent to 50 percent higher than a year ago. If it wasn’t for the near-record low mortgage finance costs, many buyers couldn’t afford the housing being built in D-FW.”
Although the article reveals that homebuilders are aware—and concerned—about these rising costs impacting consumer decisions, it may prove a difficult increase to avoid. “While this may just be a temporary upset, those who are considering owning or building a home of their own may prove wise to do so now before these costs continue to increase,” Grand Homes reviews in its press statement conclusion.
Grand Homes reviews the needs of today’s homeowner and has made sure to reflect these requirements in the impressive work it produces. For more than 25 years, Grand Homes has served as a leading homebuilder in the Dallas-Fort Worth, Texas, region and has expanded a great deal since its creation. Offering a wide range of semi-custom home options to prospective homeowners, Grand Homes has grown immensely and currently is recognized for building approximately 400 homes a year in 35 established communities in the area. Staffed with nearly 200 talented and dedicated employees, this homebuilder has gained increased attention as an award-winning contracting company.