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Competition Is Coming Are You Thinking Of Selling Your Home
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latestU.S. Census BureauandU.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact buyers?
“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”
How will this impact sellers?
“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”