Home builders across America are building a record number of housing units and many will be forced to abandon projects in 2024.
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Especially in a Housing Market like Nashville. Where builders like DR Horton and Pulte Homes are building a huge number of new homes. And are now being forced to reduce prices on those homes due to excess inventory.
This trend is especially apartments in housing markets where home buildings build the most homes. Like Texas, Tennessee, and Florida - markets with the highest building permit percentage.
Be careful buying house in these home-building communities in 2024. Because while the lower prices and mortgage rates might look appealing, these builders have been very aggressive in cutting prices so far in 2023 and into 2024. Meaning that the value of your house could go down after you buy it.
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