In markets across the U.S.,
you hear that high home prices and low inventory are slowing things down. So it
was nice to see the report that almost 300 markets throughout the country
registered an increase in economic and housing activity from the first
quarter to the second. The CEO of the National Association of Home Builders,
which co-authored the study, said, "This report shows that the
housing and economic recovery is widespread across the nation and that housing
has made significant gains since the Great Recession." Yet we're
not at full strength with "the lagging single-family permit
indicator."
One answer to the supply shortage was seen in a realtor.com study, which
found that 35% of Millennial homeowners are planning to sell their homes
in the next year. Another 6% are unsure, but may do so. These are the starter
homes that are at the most sought-after price point in today's market.
The realtor.com chief economist said, "Our survey data reveals that we may
see more of these homes hitting the market in the next year."
Increased demand is clearly helping new home sales. The Mortgage Bankers
Association reports, "through July, applications for new homes remain up
by more than 7% compared to the same period last year.".
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