“Regardless of the economy, people always want a new home,” said Mr. Morris, the owner of Morgan Creek Development.
Although these sentiments may be the exception to the rule, it is a theory that is beginning to surface.
Deborah Tintle Hauser, an associate broker with Daniel Gale Sotheby’s International Realty, said inventory had dwindled to little or no construction, creating “a need for new ones.”
With land values coming down and pricing for materials softening, developers are taking a look at jumping in again.
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