Things have been tough for homebuilders in the past few years. With foreclosures now about a third of existing home sales, builders have had a tough time competing on price. Here’s one creative try from Meritage though: [From L’s inbox- thanks L!]
There has been a lot of speculation that foreclosure moratoria around the country will reduce the competition, giving a boost to homebuilders. This is not likely. It is far more likely that this will in fact bring even more uncertainty to the market, keeping potential buyers on the sidelines. Potential buyers are unsure as to the direction of home prices, they wonder if there is likely to be another tax credit, and in many cases, they are unsure of their own employment.
Foreclosure moratoria slow the clearing out process for foreclosures. Until inventory clears and the dust settles, it’s going to be rough out there- even if Meritage can help you save on your light bill.