New Construction Prices

[Steven Gebhardt]

Hello,

There is a nice subdivision going up behind our house that has a mountain in the backdrop (no neighbors in the back) and on a cul-de.sac. We have three little kids and live on a busy street so we love the thought of living on a cul-de-sac. I envision renting out our current SFH and moving. That being said, they are still developing the lots. Since the start of developing, price per square foot has gone from $160-->165-/170/ft and rates from 3% to 5.25%. What would you guys do in the situation? Do you think new construction prices will fall in the future if supply chain issues are resolved? I asked one contractor and he said new construction wont come down unless there is a "crash". Thanks!