2024 Real Estate & Home Building Report: A Bright Outlook

The 2024 real estate market is characterized by a resurgence in home-building activities, fueled by a combination of strong demand, lowering interest rates, and exurban growth. After a period of uncertainty, buyers are eager to invest in homes that offer comfort and security and align with contemporary lifestyle needs. The landscape is rich with opportunities and challenges, let's explore the insights shaping the market this year and how Adams Homes is leading the charge. 

Suburban & Exurban Growth

The shift towards suburban and exurban areas persists as remote work sustains its popularity. Buyers seek larger spaces and greener environments while staying connected to urban amenities. 

This ideal aligns with the developments Adams Homes has been building for decades. A great example of this would be our Lonestar Region. 11 communities surround the greater Houston area, providing just what today's buyers prefer. Pricing is on par with national averages for new construction, single-family homes. Additionally, the location is perfect for escaping the big city chaos while enjoying the beneficial resources. 

With each new development, Adams Homes strategically selects land near quality businesses, healthcare, and recreational entertainment. This formula has led to an enhanced living experience and thousands of satisfied home buyers. 

Affordable Housing Initiative

The Forbes Advisory reports, "The market will only see momentum return once mortgage rates are lower, thus making homes more affordable." Although experts insist that the housing market will eventually improve, persistent inflation has caused a delay in this transformation. Despite all of this, the housing demand outweighs the inventory and in turn, rates remain stagnant. 

Adams Homes has invested significant capital with lending companies to buy down rates well below the national average on top of paying closing costs. Many homebuyers did not hesitate to take this deal and happily locked in their rate for the next 30 years. Adams has also remained true to our company values and continues to offer entry-level housing. One of our proudest achievements is offering a $1000 deposit on any home since our doors opened in 1991. 

Looking Ahead

For potential homeowners, this year presents a fantastic opportunity to invest in properties that promise long-term value and satisfaction. Whether you are looking for a municipal Townhome or a spacious suburban retreat, our inventory is ripe with options that cater to diverse needs and preferences. 

As we move forward, the prospects for homebuyers and the market at large are undeniably promising. 

*Information sourced June 2024. Subject to change*