Hello Friend,
The homebuying season is in full swing – and there’s optimism in the air among home builders!
According to the latest home-builder survey from John Burns Research and Consulting:
- Single-family starts increased for a third consecutive month in March.
- 27% of builders raised net prices month over month.
- Pricing is the strongest in the Southeast, with 46% of builders in the region raising prices month over month.
The Memphis metro area’s economy is abuzz with activity, too. Late last month, Ford executives held a major event at BlueOval City. Construction on the $5.6-billion manufacturing plant is well underway, and officials expect the region to see 30,000 direct and indirect jobs as a result.
Just South of the state border, the DeSoto County Economic Development Council reports that DeSoto County added 2,347 industrial jobs in 2022 and saw $164 million in industrial capital investment. This chart from the Council captures the county’s largest employers by employee count.
Credit: DeSoto County Economic Development Council
We foresee continued demand for our build-to-rent homes in DeSoto County due to population growth and the number of jobs and new industries coming to the area. We also expect rising wages and a shortage of new-home options to put upward pressure on rents, which favors investors.
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