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Building a home might be the cheapest route for obtaining your dream home in 2023

2022 year end home sales are surprising economists and financial experts. Demand for homes increased in October and has not slowed down in November. We still have the inventory issue haunting us from the 2020-21 COVID pandemic, with just 1.2MM homes for sale, we are well below the targeted homes for sale to be in a healthy housing market. Any homes coming for sale that are what we like to call “beer in the fridge, ready to go” are still selling in record time. While we are still seeing overpriced homes or homes that have not been updated or cared for taking longer to sell.

Given the inventory crunch, building a home may be a better option for a new home in 2023. With lumber prices taking a nosedive as we near the end of 2023 and the demand for custom home building continuing to increase, it is becoming easier to build a home without using a large track builder. The barrier to entry is education, many clients or potential clients that have the desire to build do not know the process or how to get started. We highly recommend you speak with a loan officer at NorthPort Funding if you would like to learn how to build your dream home. The process is much easier than thought if guided through the process correctly.

We have a vast database of builders, architects, home designers, and realtors that specialize in the home building process.