More Homes Sales Means More Business Opportunity, But At What Cost?
May 30, 2019
Rising incomes are giving a boost to affordable homes and the ability for the employed to venture into the remodeling realm. Strong wage growth through 2018 has more than offset an increase in mortgage interest rates to boost nationwide housing affordability in the first quarter of 2019.
In all, 61.6 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $71,900. This is up from 59.6 percent of homes sold that were affordable to median-income earners in the fourth quarter. Spikes in job growth, better wages, and strong buyer confidence are fueling the global housing demand. In turn, this should lead to more buyers entering the housing market during 2019. But, builders continue to face hesitationthat could impact the affordability of custom home products such as windows and doors.
Mortgage rates also continue to rise which will place downward pressure on the affordability of products used in new builds and remodels. Contents such as material costs and labor costs will undoubtedly affect the quality of product offered by some manufacturers as they look to keep the cost within an acceptable range or even lower than their competition. This sounds like a good idea but offering a lower quality product for the sake of lower or “sustainable” pricing is never a good idea.
Panda Windows & Doors gives peace of mind to the architect, builder, and homeowner by always building quality into every system. No part of the Panda process goes improvised even when less expensive material is involved. Panda Windows & Doors believes in providing expert built handcrafted custom systems.
Although more money is looking to be made by using materials at half the cost, Panda remains to apply the same quality and luxury into each project as it does with each one of our systems that goes out. Contact the team at Panda Windows & Doors today to begin your project today!
Keyword: Architecture, Custom Windows, Custom Doors, Folding Doors, Bi-part Doors, Lift and Slide Doors, Glass Walls, Pivot Doors, French Doors, Hurricane Rated Doors, Re-model, Renovation, Commercial, Residential