Demand is picking up for McKinney TX new homes. Low mortgage rates have spurred an increase in home sales, which in turn is pushing up home prices. If you’ve been thinking about buying a new home, it may be time to get serious about purchasing before prices go much higher.
New home sales rose 14 percent in the third quarter, compared to a year ago. And home prices were up 3.7 percent in July, the fifth straight monthly increase. Low mortgage rates are helping people with good credit to trade up to a better home, pay roughly the same mortgage payment, and get a much better value for the money.
Landon Homes has sold all but a few lots in a couple of the villages in Richwoods development. President John Landon attributes the new boom, in part, to the willingness of banks to loan money. “For the builders to build homes, definitely, the money’s available to build the homes,” Landon said. “For the buyers who are getting mortgages, money is available… but you’ve got to make certain your credit is good and you’re creditworthy.”
There are other signs that the north Texas area is experiencing a housing recovery. The number of foreclosures has dropped, and more people are visiting model homes. If you’re looking for a new home, one community you might want to consider is Shiloh Lakes in McKinney TX. New homes in this development feature some of the biggest homesites in the area, and include Landon’s signature energy-saving features like 2×6 exterior insulated walls and Tech-Shield radiant heat barrier for roof decking.
Shiloh Lakes is surrounded by rolling hills, miles of bike and hiking trails and 2,000 acres of parkland. It’s also located across the street from the exemplary rated J.R. Wilmeth Elementary School. McKinney has been ranked as the second best place to live in the U.S. by CNN Money Magazine, thanks, in part, to its robust business environment, historic downtown and diverse residential neighborhoods.
Landon Homes is a visionary home builder that respects both the environment and your budget, while creating a home that is both beautiful and eco-friendly. Visit the Landon website to learn more about the McKinney TX new homes for sale in Shiloh Lakes.