An Update and Market Commentary
Updated: Jul 18
A quick update-
Continued High Demand for Entitled "Construction-Ready" Farmland:
We have recently signed two more land contracts with national builders for projects that we have completed (the pre-construction work- entitlements, design, zoning, approvals), and the pricing is consistent with project projections!
We are seeing no slowdown in demand for entitled "construction ready" land from the national builders to build new mid-priced residential communities…
Comments on National News Coverage:
The national housing news coverage is often focused on large trends, and they love to spin a headline negative (more people read it). We agree that national and regional housing trends impact the overall economy, and is important, but we all know that housing is local, and not just about averages.
Whether overall national average prices are going up or down, or building permits are going up or down, is not really important for the local young family looking for a mid-priced home. National builder can (and want) to build homes for that segment of the market, but do not have the inventory of projects that address that local demand. Many smaller towns want and need housing for its critical employer’s workforce. You rarely hear that story in the national news.
Let’s focus on the local! To address that, we will start sharing local housing news, in the areas we are active, periodically. If you have stories, please share them with us too!
Working together, we can address this specific housing demand, and support the “home ownership” way of life that has helped so many families improve their long-term financial security and independence.