Anyone considering a move knows that the current Indianapolis housing market is a crazy place to be. Bidding wars and low inventory have caused prices to increase well above market value. Buyers are spending thousands more than asking price for pre-existing homes…and that’s if they can even get an offer in before the dreaded “PENDING SALE” appears.
If a move in the upcoming months is on your radar, consider weighing your options between buying a home and building one.
Why settle for less than what you want?
Things Are Looking Up
Homebuilders are finding new ways to adapt to the ever-changing obstacles, and material costs are coming down! In May of this year, lumber prices skyrocketed to over $1,600 per thousand board feet. Today, lumber prices are on a downward trend and have dropped significantly to around $500 per thousand board feet.
Looking Forward to 2022
Going into 2022, we expect to see more positive shifts. The cost of construction is forecasted to decrease and stabilize with continued economic growth and the relief of supply chain halts. And with building materials easier to source, we predict a boom in new home builds.
Many home seekers who have avoided the 2021 real estate whirlwind are expected to enter the anticipated “tamer” market in 2022. This means that although construction prices may be lower, you could be looking at a longer wait to be in the home of your dreams and a limited inventory of available lots.
LUMBER PRICING OVER TIME
To avoid long waitlists and ensure your home is built on a lot you love, the time to act is NOW!
At Whicker Construction, we take a unique approach to new home construction by partnering with our clients every step of the way. We know that in order to deliver a completely custom home designed to meet your lifestyle, we need to get to know you and your vision.
Contact us today to begin the journey towards building your dream home in 2022.