Lastly, listing prices are staying high. With low inventory and high demand, it's no surprise that prices are also still up. In fact, according to the same article, "the median price of homes for sale increased by 6.3% annually in March." For buyers, this means that they may need to adjust their expectations and budget accordingly. For sellers, of course, it's a great time to sell, as they may be able to get top dollar for their home.

Overall, the spring real estate market is a unique and challenging environment for both buyers and sellers. The shortage of inventory and high prices can make it difficult for buyers to find their dream home, but the low time on the market indicates that there is still strong demand for homes. While the current residential resale market has its challenges, building a new home can be a great alternative for those looking to avoid the problems associated with buying an existing home. When you build a new home, you have complete control over the design and features, and you don't have to worry about competing with other buyers in a tight market! Additionally, if you build with a company like Faber Builders, your home will be covered by a warranty and be built with the latest energy-efficient technology, saving you money on utilities in the long run. In today's market, building a new home is a better option than ever! Contact us today to get started with the process.