any new construction?

In a long-term context, May vacancy rate is 0.5 percentage points lower than the 4.8% average recorded since the beginning of Q2 2014.Market OutlookREIS's new construction analysts report that 6.9 million square feet of new multi-tenant warehouse/distribution inventory will be introduced to the metro by the end of the year, and net total absorption will be positive 9.1 million square feet.

When the public threw out the leftist politicians who were worried about criminals “rights” rather than victims rights and eased regulations on business, encouraged new construction rather than prohibiting it, the NYC turned around.  

Aside from the STR restriction situation mentioned by Michael, new construction is going to cost more than buying an existing property 98 percent of the time. 

This property was just constructed a few months ago?  

Over the last several years casinos have went up, Ford Field (Lions) and Comerica Park (Tigers) were erected and people who loved the city began brainstorming how to revive it.More recently, Little Ceaser's Arena (new home of Pistons and Red Wings) construction started and is due to open Sept this year.

Purchase price: $250,000 Sale price: $349,900 We provided a loan for a new construction project in Palm Bay, FL, with one of the biggest build booms.

Side tip, if you decide to close without using a agent (not usually a good idea in a new market) then you need to 100% get an inspection (using your own inspector, not the listing agents) and be there during the inspection, title insurance (as always), and have a pre-existing relationship with a property manager.

The pandemic spurred a multifamily construction boom (condos, apartments, townhomes etc.).

Mechanics liens I believe are mostly tied to new construction to ensure sub contractors get paid before a building is sold.