Home construction shows no signs of slowing Nevin Batiwalla Staff Reporter- Nashville Business Journal Home construction in Nashville continues to build momentum, according to a new report by research firm Metrostudy. “Builders have responded to the demand and continue to successfully sell their limited existing inventory and new starts – most of them before completion,” Jason Brown, regional director of Metrostudy’s Nashville Market, said in a news release. During the second quarter, 1,309 homes sold, a 35 percent increase above the previous quarter. In that same period, work started on 1,460 new homes, up 35 percent from the first quarter. The number of new lots delivered during the past 12 months ending in June was up 84 percent compared to a year ago. “As demand rebounds and supply continues to decreases, home prices and raw land have shot up,” Brown said. “Builders are balancing the amount of price increases they can pass onto the consumers while trying to replenish their land and lot pipeline.”
Posted on: Tue, 20 Aug 2013 03:08:19 +0000
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