Anyone else seeing massive amounts of new construction in their area? $LEN  and  $DHI  have absolutely invaded my state. It's not just me either, friends and family in other states have been reporting similar things near them.

Personally, I'm a huge fan. The housing market is absolutely insane right now and I'm a firm believer the only way out is more supply and the White House has echoed similar thoughts. Is home building going to explode all across the nation soon?

Speaking just in my area, new construction is a deal too. I can get a 4bed/3bath for-sale-by-owner for $350k-$400k at a ~7.5% interest rate and be on the hook for all closing costs and etc. Versus, I can get a brand new 4bed/3bath from a home builder for $330k-$350k with credit toward closing (I've seen as high as $10k) and interest rate credits (I've seen as low as 4.5%). It's just a better deal. 

Is this profitable though? $DHI is down like 7% this year and $LEN is down more than 10%. Is this the buying opportunity of a lifetime or are these builders not the future?