4 Hottest Markets for New Home Construction

Written by Posted On Wednesday, 02 August 2017 11:25

The housing market has been on an upward trend, thanks to a surge in the number of new home buyers. This has been largely attributed to thriving economies and continued strong job growth. Namely, the unemployment rate dropped to a 16-year low of 4.3 percent in May 2017. Likewise, the mortgage rates remain favorable by historical standards.


For this article, the purpose is to explore four markets for new home construction, which you can focus on if you're looking to invest in that sector of the real housing industry.


Charleston, South Carolina

Charleston is one of the leading tourist hotspots in the United States. This is one of the reasons why a massive number of people are looking to move to this low-country port city. Furthermore, Charleston boasts good housing affordability and commendable job growth. Its awe-inspiring culinary scene also plays a great role in making it one of the hottest markets for new home construction.


Seattle, Washington

Competition for housing, as well as prices, has been increasingly rising across the country. However, Seattle home buyers have to contend with major challenges in the search for their dream home.


Namely, open houses are flooded. Bidding wars are the order of the day, and new homes are going for well beyond asking prices. In fact, home prices in Seattle have increased by double digits for over a year. This is according to the S&P CoreLogic Case-Shiller Home Price Index.


One of the reasons behind this situation is that there has been an influx of new residents. This is largely attributed to the city's stable economy. You should realize that Seattle is home to world-leading companies such as:


  • Amazon

  • Microsoft

  • Starbucks


Nashville, Tennessee

Nashville has been one of the strongest housing markets for a couple of years now. This year, however, it is gearing up to be the hottest real estate market within the United States. You can attribute this to several factors, the most important of which include:


  • 4.3 percent home appreciation rate

  • 4.0 percent unemployment rate

  • 1.1 percent average income rise among its workforce

Together with its renowned music lineage, the city's economy is being run by youthful professionals as well as a blossoming health care industry. Nashville also delivers high-value homes at affordable prices.


San Antonio, Texas

The hottest markets for new home construction in the Lone Star State is San Antonio and Austin; however, Austin is relatively expensive. While the country suffered a serious recession and housing crisis, Texas was not hit as hard meaning that it was able to recover faster.


In fact, Texas has been creating jobs longer and faster compared to the rest of the United States. In 2015, job opportunities and affordable housing resulted in more people moving from other states to Texas compared to other states apart from Florida. San Antonio movers also showed an increase to that of previous years in the great recession from people who were moving into the area for new opportunities.


Final Thoughts

If you are shopping for a home, you should consider investing in new home construction. In this way, you will get energy-efficient construction, custom-made design, as well as all the benefits of having a home that was constructed just for you. In fact, new homes are more cost efficient in the long run.


However, you need to be careful when choosing where to buy a home. You need to make a smart investment. There is a wide range of new home construction markets in the industry, including the aforementioned. Hence, take the time to choose a market that suits your needs the best.

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Sofia Belnap

Sophia is passionate about writing in the real estate and home improvement spaces. When Sophia is not writing she loves reading, cooking, and spending time with friends and family.

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