It's no surprise to anyone that the population of the world is growing and with that comes the expansion of everything from large cities to smaller towns. You don't have to be a home inspection company like Edmonton Housemaster or a general contractor based in Seattle to notice all of the residential complexes that are being erected with each coming year. If you want to measure the growth of a city than one of the statistics you might want to look at is the number of housing starts. These are the number of privately-owned new homes which are currently in construction and can include a unit in a condo or a single-family home in the country.
This is helpful information if you're thinking of moving somewhere and are looking at new condos or you're weighing the options of moving your business to a new location and are wondering how many customers and workers you might find there in the future. Not only can you see how healthy the population growth is for the city but can also look into which neighborhoods seem to be the most in demand when it comes to more residential real estate choices. If you're interested in buying a new home you likely want to do it in an area that's going to be in demand for some time to come.
There are two types of housing starts that might interest someone moving to the area. The first is for condos and townhomes that are being constructed in the downtown core and will provide convenient real estate that's usually at a reasonable price for what you're getting. There are homes for first time buyers with a modest amount of amenities and luxury units for those with deeper pockets.
The other choice is new developments on the outskirts of the city. While many developers are doing what they can to build up the core of cities as much as possible, you need to be willing to expand outwards as well. You will find that if you're buying real estate that is now in a quieter area or one of the neighborhoods around New York that it might not be that way for long. And with residential real estate moving outwards comes rising prices for that land. Many smart investors are seeing the potential in buying in these outer areas.
When you're choosing a real estate agent to work with you should always ask them about the housing starts in your desired neighborhood even if you're not looking at buying a newer home. This will give you some indication of where that neighborhood is moving in terms of its feel, price range, and popularity. This is all information you will want to have if you're thinking of living there.
Canada housing starts information.