The 2020 housing market in the United States is facing particular challenges preluded by the significant drop in sales in 2019. The market for new construction homes will be an integral part in making the market grow and move again. 2020 is the year that custom home building can shine brighter than ever before for new and eager buyers.
2020 Housing Market Trends
The housing market has negative and positive predictions. It is facing a crisis that requires multiple factors to work together to bring the economy back to health. The greatest problem at the beginning of 2020 is that affordable housing is hard to find. The growth in home prices has slowed, but the costs are still high. At least part of the reason why available homes are so expensive is that the U.S. is facing a supply shortage. There are not enough homes for sale for people looking to buy. Millennials are at the prime age to buy homes, and surveys show that they would much rather own a home than rent one.
Custom Home Building in 2020
The high demand for housing from millennials, as well as Gen X and baby boomers, will help to incite a push for new construction. Although the market for existing homes remains high, the market for custom homes is rising significantly. With the desire to live in a central location, investing in custom homes is the way to go if a prospective homeowner has the capital. The consciousness toward environmentally-friendly and efficient construction becoming more mainstream, newer homes offer a notable advantage as well.
Advantages of Custom Homes
Custom home builders have more confidence than ever in their constructions in 2020, and for good reason. Advances in everything including the layout, materials, and HVAC ensure greater efficiency than ever. Newer homes can save more money on heating and cooling long-term and give greater comfort. The most obvious benefit of custom homes is that they are custom. You can bring together all the elements you want in a home into one real house.
Let us be Your Trusted Maryland Home Builder
Are you ready to bring your dream home to life? Enlist the difference of Viking Custom Homes, Maryland’s trusted home builder of high-quality single-family homes for more than three decades. With over 30 years of experience and a reputation of excellence in over five Maryland counties, we offer the highest standard of customer service and quality assurance for your new home. If you are looking to build on one of our beautiful homesite offerings or on your own lot, we are eager to help you every step of the way towards building your dream home. Let us bring your dream to life by building a home where life unfolds! Contact us online or call today at 410-977-2188 to speak with a member of our trusted team. You can also visit our Facebook, Twitter, or LinkedIn for more information.