Apartments & Single Family Houses drive Construction Rebound in Wilmington!

Jun 6, 2012 | No Responses

Recent article in the Star News indicated that May 2012 permits for new single family homes were 42 which is a far better than the year before of 22 for May 2011. This is a slow start compared to single family permits of 89 for May of 2007. While I’m glad to see new construction starts are up for all those vendors out of work, but how is it going to effect prices? The real question prices of Re-Sales? I have a wonderful listing at 217 Colquitt Dr in Lambs Bluff that we have reduced to compete against new construction. Will the lower priced new construction cause more short sales? Causes prices to continue to decline for re-sales to compete? What do you think Sellers that are trying to sale? Buyers, what is your opinion when you are house shopping?

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