Snohomish County New Construction Supply

Snohomish County's lot supply pipeline and new construction inventory is full of developments, vacant lots and new construction homes which builders are having difficulty selling. Through the real estate growth of the new millennium, builders were participating in one of the largest land grabs in recent history and it's that land grab that developers have to deal with now.

New construction homes are just not selling at the rate in which builders had become accustom to in 2000-2007 and now, late 2008, new home sales are continuing to decline. In March 2007 there were 486 new construction sales, in March 2008 there were just 243 and in September there were 155. The result is mass standing inventory that is selling at a slower rate each month that just can't be absorbed with price slashing techniques or buyer incentives.

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