Burnt Out on Building Homes
Its no surprise that the Douglas County housing market is over-saturated, taking a hit in permits issued which is more likely a byproduct of overdevelopment of the last few years and a declining market that has affected the nation. Foreclosures on are the rise, its harder to attain a loan for a new home and the incentives (I like to call them freebies) are slowly disappearing. The Douglas Neighbor tells of builders having “an average of 12.9 months’ supply of unsold houses in inventory” while high-end homes in the $400,000+ region “have a 44-month supply.”
From the Douglas County Sentinel, the Douglas County Home Builders Association feels that the drop in permits is because “builders are liquidating existing inventories.” Both local newspapers released articles within the last week discussing the latest housing market situation. You can read the Neighbors article here and the Sentinel article here.
