After a successful launch in the Tri-State area, Welcome Homes expands further down the East Coast to offer buyers a better option when searching for a new home.
NEW YORK, July 14, 2022 — Welcome Homes, the tech-enabled home developer, today, announced expansion into the Maryland and Philadelphia areas as an alternative to rising prices of outdated housing inventory after successfully launching 40 homes in the New York Tri-State area in early 2021. New homes start at $745K in the D.C. metro area, and $805K in the Philadelphia area.
“The success we’ve seen in the past year reflects just how hungry prospective homeowners are for a different kind of home-buying experience,” says Benjie Burford, VP of Sales at Welcome Homes. “Many homebuyers aren’t satisfied with the existing home inventory and are instead looking to build their dream homes. As we continue to break into new markets such as the Maryland (D.C. metro) and Philadelphia areas, we’re thrilled to bring quality, new construction homes to those buyers with a seamless online process that eliminates traditional pain points.”
The DC and Philadelphia markets are both experiencing a period of historically low inventory and skyrocketing prices, and Welcome Homes provides a cost-effective alternative to potential homebuyers, with currently over 55 properties vetted and available collectively. The economic shift towards housing consumption was exacerbated by the pandemic as millennials entered into their prime home-buying years, resulting in an increased demand that was not supported by existing inventory.
Research shows consumer demand drove home values up by an average of 23% in the DMV area over the past two years. Similarly, the Philadelphia metro area has been deemed a seller’s market as interest in Bucks County, Pennsylvania and southwest New Jersey boom, breaking home value records. This demand is heavily fueled by New York City residents, who find the time-to-city commute shorter than many existing popular markets in New York State, making it an attractive, more cost-effective option for home buyers who are returning to their offices as pandemic restrictions ease.
“The average age of a home in the D.C. metro area is 75 years. In Philadelphia, it’s 93 years. Instead of investing in an aging home and spending time and money renovating it into their dream home, we’re offering homebuyers in areas like Cherry Hill, New Jersey; and Bucks County, Pennsylvania; the opportunity to become homeowners while avoiding bidding wars over outdated housing stock. With Welcome Homes, customers will have access to homes that match the tone, aesthetics, size and price of the area while ensuring they receive the best possible value.”
Welcome Homes’ launch in the Maryland and Philadelphia markets immediately follows a partnership with Fortune 500 company and the largest independent residential real estate brokerage in the United States, Compass, Inc. through its Preferred Agent Program and is the next step in the company’s plan to make home building accessible and easy nationwide.
Welcome Homes’ intuitive online platform simplifies the home building experience. The company manages the entire process, providing price transparency upfront and premium white-glove service along the way.
For more details or to purchase your own home, please visit www.welcomehomes.com.
About Welcome Homes
Welcome Homes is the tech-enabled home developer, creating a more seamless, price-transparent path to home ownership. By streamlining the entire process from land selection to construction, the company makes owning your dream home simple, feasible, and guaranteed. Welcome Homes is currently operational in the Tri-State area, including Westchester County, NY, Greenwich, CT, and Bergen and Morris Counties, NJ. Welcome Homes is expanding to more areas around the U.S. For more information or to sell your own Welcome Home, visit www.welcomehomes.com.
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