The #1 Reason It Is Difficult to Find Your Dream HomeThe headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation
To Keep Housing Affordable We Need More New Build Homes
Residential sales levels are constrained by a lack of new inventory. Home sales have been volatile on a month-to-month basis, but on average they’re almost exactly where they were last year: at an annual sales pace of about 5.2 million units. Notwithstanding the ups and downs of the transaction pace, there appears to be a steady stream of buyers in the market, so we can expect sales to hold steady this year and settle at a pace close to where they were at the end of 2015.
If you are watching rental rates go up and the inventory of homes to purchase go down, you can see why our future well-being is dependent on enough new homes being constructed to keep housing affordable given wages. It's about supply and demand. Demand goes up and so do prices. We need more inventory to keep housing affordable.
Lance is a Retired Air Force Officer and skip-generation real estate agent -- his grandparents ran a real estate brokerage in Oregon during the 1960s and 70s. Lance helps mainly vacation home investor....
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