Contact 2: Local real estate boom extends to new home construction
ST. LOUIS – The St. Louis real estate market is on tilt and chronicling this craziness takes teamwork. That’s why Contact 2 is collaborating with Michael Calhoun and Megan Lynch from KMOX Radio.
“I thought if we put our heads together we could provide a comprehensive look at what’s going on with buyers and sellers right now,” Lynch said.
And builders too; like John Eilermann, CEO of McBride and Sons Homes. He told KMOX the market for new home construction is driven by low interest rates and low inventory of existing homes. Under normal circumstances, the company keeps 100 to 150 inventory homes ready for instant move in.
“Right now, we have one completed inventory home and there’s not many behind it because sales are so strong,” Eilermann said.
For example, buyers took extreme measures a few weekends ago to secure a home in McBride’s Westhaven…