Affordable Inventory Is Disappearing[1]
In September, nationwide inventory dropped 2.5% from the previous year.
And it's worse among affordable homes:
Builders Are Answering the Call
Homebuilder Confidence Surged in October[3]
Indicates strong current sales activity and a positive future outlook
But Are Today's New Homes the Types of Homes Buyers Want?
More buyers may start turning to new construction to make up for the
lack of existing inventory. But building the right kinds of homes is
essential to meeting the needs of today's homebuyer.
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Sources: [1] Realtor.com®, September 2019 Monthly Housing Trends Report. [2] Realtor.com, Real Estate Market Outlook, November 2019. [3] National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), October 2019. [4] U.S. Census Bureau, Highlights of Annual 2018 Characteristics of New Housing. [5] National Association of Realtors®, 2019 Home Buyers and Sellers Generational Trends Report.