Spring is around the corner, and that means it’s coming close to prime home buying season. Recent real estate market statistics indicate that new house construction has gotten a boost in the past month. New permits and houses under construction have increased. Builders started constructing more new homes and condos in March than in the last six months, which many see as a sign of good prospects for the market. Building permits rose 11.2 percent in the month, while new housing construction jumped 7.2 percent from February.

That means that your real estate options very promising his season, especially if you’re in the right financial position to buy a house. Due to high foreclosure rates, home prices have been pushed down, leaving you with a better chance of affording to buy a luxury estate or dream home in the  hills or among the beaches of San Diego.

While some experts look at the housing market and see a depressed economy, others see hope for the future. Some economists say the increase in building permits could indicate a turnaround just around the corner. New homes take about six months to build, and new permits currently outnumber homes being constructed.

The increase in house construction was seen in all regions, particularly here in the Western United States with an increase of 27.6 percent.

Rising construction rates are a promising sign for job growth and economic stability in an area, and this is no less true of San Diego. According to the National Association of Home Builders, every new home creates three jobs for the year and about $90,000 in taxes. Where new neighborhoods spring up, a strong economy follows.

Other economists suggest that home prices will drop even further, along with sales and construction rates, but most see recovery at some point in the future.

Meanwhile, those looking to buy a house are in a great position. Real estate prices are low for both commercial and residential properties, and agents are eager to help you find the right buy. With more and more houses breaking ground, the options are plenty.

If you can’t find your dream home in local San Diego listings, you should consider buying land. Builders are showing eagerness to provide permits for new houses, statistics show.

If you need a quick or reliable buy, short sales or foreclosures may be the way to go. Foreclosures are expected to persist through the year, providing ample opportunity for affordable home buying.

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This is filed under Home Buying.


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