There is a lot of talk in Washington these days about insider trading and the “ethical” dilemma of allowing congress to capitalize on information while the general public may not. While congress begins their debate we will share some Boone Homes insider information about our Richmond new homes that that is perfectly legal. This insider information is based on data of what has happened recently, forecasts for this year and years of experience in building new homes.
Insider information with real life data shows that in the last few weeks Boone Homes has sold nearly our entire new home inventory. This bit of information alone can seem like an irregularity in the market until you meld it with the forecast for this year from the National Association of Home Builders. The association asserts that there will be an increased demand for new homes creating a shortage by the 3rd quarter of 2012. In conversations with local real estate professionals on the beat, this information does not seem to be exclusive to home builders as they claim to have seen the best beginning to the spring housing market since before the “Great Recession.” (more…)