Supply & Demand In The Resale Market...

With 25,000 spec homes, now may be the time to buy, from the Arizona Republic, reports that as many as 40 percent of the contracts on all new homes in the Valley during 2005 and early this year have fallen through. That translates to 25,000 spec homes, according to a new survey from housing analyst RL Brown. Many new home deals fell apart because buyers couldn't sell existing homes, but there also were many investors who pulled out of new-home deals after seeing they couldn't flip the homes for hefty profits. Now builders are offering huge incentives to get the inventory sold. So if you looking for the best deal on a new home, it might be now. Housing analysts also

say supply and demand in the resale market has to get back in sync before the home building market will rebound. Realty Executives President John Foltz said many of his agents ask where all the home buyers are in this "buyers market". His answer: "They're living in overpriced listings."



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