Real Estate News – New Home Construction Increases

The Ups of our local Real Estate Market –   New Home Construction is on the increase this year.  We currently have 42 new construction permits approved, and anther 7 permits waiting for the approval process.  This will make a total of 49 new construction permits, where we only built 52 new homes in 2017.  As per CARMLS the average price of Homes Sold in Hot Springs Village is also on the rise (comparing August of this year to August of last year.  August 2018 average price is $199,583 compared to 2017 at $181,005.  The final up to mention is interest rates are on an incline.  August 2018 interest rates averaged 4.73%, with 2017 for the same eight months was 3.88% per FedPrimeRate.com.

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