Given all the uncertainty about what’s ahead for us, coronavirus-wise, you might be surprised to hear that it’s a great time to hire a custom home builder in Durango and move ahead with your mountain dream home. Here’s why.
Southwest Colorado is Appealing
A few months ago, a local real estate leader, John Wells, noted that the Durango market wasn’t “likely to be harmed by the outbreak of the virulent virus.” His remarks, covered by the Durango Herald, were viewed with skepticism by a few, but today the prediction seems to be right on. Wells reminded a group gathered for a real estate forecast that the Four Corners area is very popular with tourists seeking a true western experience. For example, La Plata County has just over 30 people per square mile, compared to Los Angeles County with more than 7,000, he said.
Some of those tourists ultimately decide to move here and many look for existing homes to buy. One local realtor listed a rural home on a recent weekend, showed it to couples from Dallas, Denver and Chicago immediately, and sold the home for well over asking price in a mini bidding war five days later.
Resale Homes Can Be Scarce
Families like these, searching for their Durango dream home, say their plan is to retire in a quiet, safe place, work from home for the foreseeable future or simply escape the big city. And like the buyers above, they are ready to snap up houses available for resale. That could be why the National Homebuilders Association (NAHB) issued a forecast earlier this summer stating that home building is leading an economic rebound in coronavirus times. While single family building starts have been relatively flat, the organization says, new permits expanded by 12%.
What’s more, the NAHB reported that the nationwide inventory of single-family homes fell to a 5.6 month supply. When the number is under 6 months, new home building generally picks up.
The NAHB also pointed to an “emerging trend” of home buyers looking to relocate to smaller metro and exurban areas. Given all these factors, it’s no wonder custom home builders in La Plata County are busy right now.
La Plata County is Relatively Safe
Another advantage of relocating here is that it’s likely you’ll be safe building a home in the Durango area. San Juan Basin Health, the health agency for our county and Archuleta County next door, reports a few more than 150 cases of COVID-19 to date in both counties. There have been just two deaths associated with the virus and the local healthcare system is not under the same stress as many are in large metro areas and more densely populated states.
Members of the Home Builders Association of Southwest Colorado are encouraged to follow the recommendations of the Colorado Association of Home Builders (CAHB) to keep themselves, their partners and their clients protected. These include maintaining distance between construction workers, limiting the size of work groups and sanitizing tools and surfaces frequently. A good way to stay current on news and COVID-19 resources for the industry is to read the CAHB website.
Ready to Get Started?
What are you waiting for? You can join others who have decided that now is the right time to make the move to Southwest Colorado. A custom home builder can help you do just that. If you have your eye on the perfect property, visit our member directory to find a qualified local home builder to work with. With luck, you may even be able to get a head start before winter arrives! If not, you’ll have peace of mind knowing that you’ll have your place in the mountains underway next year.