One key question that’s top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, we’re in the ultimate sellers’ market, so real estate is ultra-competitive for buyers right now. Here’s a look at two reasons why today’s housing supply is low and what that means for you.
>>New Home Construction Fell Behind for Several Years Builders exceeded the long-term average for housing units completed during the housing bubble. The result was an oversupply of homes on the market, so home values declined. That was one of the factors that led to the housing crash back in 2008. Since then, the level of new home construction has fallen off. For the last 13 straight years, builders haven’t been able to construct enough homes to meet the historical average. That underbuilding left... #realestate #homeownership #homebuying #realestategoals Welcome HŌM