As owners remain reluctant to put their properties on the market, developers are rushing to build new homes to meet demand.
When Joel Adler decided it was time to downsize from his six-bedroom house in Parkland, Fla., where he had lived for more than 20 years, he was disappointed with the lack options.
“There weren’t a lot of homes to look at,” said Mr. Adler, a 76-year-old retired teacher, who had been searching for a year and a half.
Eventually, he turned to Valencia Sound, a gated community in Boynton Beach, Fla., that opened in 2019, joining the growing ranks of home buyers who opted for a newly built house instead of an existing one, a rare bright spot in an otherwise gloomy market.
The housing market has been mired for much of the past year, bogged down by high prices, soaring mortgage rates and a dearth of inventory, pushing many would-be buyers to the sidelines.
We are having trouble retrieving the article content.
Please enable JavaScript in your browser settings.
Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.
Thank you for your patience while we verify access.
Already a subscriber? Log in.
Want all of The Times? Subscribe.
Source: Elections - nytimes.com
