Devoted to real estate, real estate agents, and all things property related

The National Association of Home Builders (NAHB) is reporting that buyer traffic has decreased, but even the buyers who are interested aren’t closing deals.  Mortgage loans are becoming increasingly impossible to obtain for buyers who are looking for their first home, or to purchase a larger home.  

Builders have an advantage in the market because they can offer huge incentives like $10,000 cash toward closing, or free upgrades and appliances.  Combine great incentives with having a brand new home, it would seem that builders would have the upper hand in a slowing market.  

The President of the NAHB reports that often times buyers are interested, and out looking at homes, but media reports of a housing crisis has some worried that this is not a good time to buy a home.  Other buyers are simply waiting for an opportunity to qualify for a reasonable mortgage loan.