For Homebuilders, Something Has to Give – Banker & Tradesman

Some renters would give up a bedroom in their current place and rent a smaller unit – if it meant they could save more quickly for a down payment on their first home.

Whether to settle for a three-bedroom house instead of four is a choice many buyers have to make, and that will continue in the months ahead – especially if housing costs and mortgage rates remain stubbornly high.

In the new-home sector, many builders are making that choice for them: not just in the number of bedrooms, but also the number of bathrooms, the size of the garage or lot, and anything else where builders can pare costs to make their plans less expensive to build.

Going forward, said Anja Seng, a senior research analyst at John Burns Real Estate Consulting, builders will be facing the same challenges as their customers. Some will charge ahead as planned; some will mothball projects and wait for a better market. But Seng said “the most creative” among them will seize the day by making bold design choices.

Not…

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