New home projects in the Greater Dallas area haven’t been without some challenges this year from supply chain disruptions, increased material prices, and labor shortages. And if you’re in the market for new construction, the stalled homebuilds may have left you wondering when you’ll be able to buy a brand new home.
Together, these bumps in the road mean builders have had to slow down production while they wait for the disruptions to be resolved before they can start playing catch up. But if you are renting- while-waiting, what can you expect?
The decrease in new-home construction because of the slowdown affects the overall housing market, including the rental market. Much like the strengthening home prices to keep up with supply and demand, rents will continue to tick up as well.
The good news is, with homebuyers waiting in the wings for new homes, the DFW housing market remains extremely hot. The state of Texas is experiencing a boom in its economy as businesses are pouring money into the state at an unprecedented rate.
If you’re patiently waiting for the disruptions to normalize so you can finally start building that dream home of yours, our team at First United is ready to assist with your home financing needs in any way we can. Now is a great time to consider going from renter to homeowner. We offer great mortgage programs for first time buyers, including FHA, VA and USDA loans. Give us a call today at (972) 591-3097 for a free quote and consultation.