When Joel Adler decided it was time to downsize from his six-bedroom house in Parkland, Fla., where he had lived for more than 20 years, he was disappointed with the lack options.
“There weren’t a lot of homes to look at,” said Mr. Adler, a 76-year-old retired teacher, who had been searching for a year and a half.
Eventually, he turned to Valencia Sound, a gated community in Boynton Beach, Fla., that opened in 2019, joining the growing ranks of home buyers who opted for a newly built house instead of an existing one, a rare bright spot in an otherwise gloomy market.
The housing market has been mired for much of the past year, bogged down by high prices, soaring mortgage rates and a dearth of inventory, pushing many would-be buyers to the sidelines.
Persons:
Joel Adler, downsize, ”, Adler
Organizations:
Valencia Sound
Locations:
Parkland, Fla, Valencia, Boynton Beach