Anyone who’s followed the advances in the real estate market over 2013 knows: last year was one of the best times to buy a new home. But now that the holidays have passed and the new year has begun, many are wondering, is it still a buyer’s market? Absolutely yes!
Last year, home sales increased, home values grew, and more people looked to Sussex County to find their dream home in a beach resort community. With the local market favoring serious buyers throughout much of the year, our county made huge strides towards economic normalcy. In fact, according to The Cape Gazette, “for the third consecutive year, the number of home sales in Sussex County increased by double-digit percentages” – astonishing progress for this southernmost county!
The National Association of Home Builders (NAHB) also points to the solid finish in 2013 to indicate positive, post-recession growth for 2014. According to this NAHB report, national housing starts grew by 18 percent and single-family home construction increased by 15 percent, and this year’s projections show continued improvements. Any smart homebuyer knows that the market couldn’t be in better conditions for home buying!
As for 2014 in our market, broker and owner of Rehoboth Bay Realty, T.J. Redefer, notes that “price is what’s motivating buyers, and the fear that interest rates might creep up. It’s still a buyer’s market.” If future homebuyers have been waiting for the right time to jump into the Sussex County market, this is certainly it. The demands for these houses are growing and the popularity of this market is undeniable.
At Bayside, we know this to be especially true. Our golf course community is the best-selling in Sussex County, and completely exemplifies the coastal Delaware lifestyle. Everything from our world-class amenities to our Jack Nicklaus Signature Golf Course set Bayside apart as the place to be.
With these favorable market conditions, it would be a mistake not to reward yourself with a home and beach community you’re absolutely, undoubtedly in love with. We couldn’t think of a better way to kick off 2014 than buying a new home at Bayside!
Source: Cape Gazette, Delmarva Now, The National Association of Home Builders
