One of the side effects of the economic slowdown around the country is a decrease in demand for building supplies and materials. Similarly, there are plumbers and carpenters and electricians who are very anxious to work and are sharpening their pencils real fine when it comes to bidding. New home construction on Durango real estate has been affected as well. Economics 101 tells us when the demand decreases, the prices come down. And we are very much seeing that in the construction business right now. Framing lumber is now 18% cheaper than it was 18 months ago. Drywall is now selling for 40% less. The price of steel and concrete have also come down.
It is often said that timing is everything. So, if you are a person wanting to build a home, then you are witnessing an almost “perfect storm” situation that hugely benefits you: A. interest rates at or near 50 year record low levels; B. the cost of building supplies dropping pretty drastically; and C. the ready availability of and the declining cost of labor.
If you are looking for a nice piece of land for your custom home we have a number of properties to choose from. We've got everything from 35 acres west of Durango to in-town lots in Sky Ridge. Here is a link to the land section of my BuyDurango.com website where you can take a look at some of our team listings as well as a link directly into the MLS to view the entire inventory of land available from all agents. Durango Real Estate
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment