With the historically low existing home supply, which is at a 50-year low, Home Building has exploded in the United States. Home building is contributing to the economy in a meaningful way, creating jobs, and boosting the US Gross Domestic Product (GDP).
In the last month, new home sales rose 4.1%, adding to the general home building boom in the US. Buyers are flocking to new builds due to the extremely limited number of existing homes available for sale. Builders are responding to the demand, with the Construction industry responding with a myriad of new home builds in locations across the country.
Important Elements:
• Low existing home supply: 50-year low
• Positive effect on economy: job creation and boosting of GDP
• 4.1% new home sales increase in past month
• Builders responding to demand with new home builds
You can read this full article at: https://www.housingwire.com/articles/homebuilders-are-taking-advantage-of-low-existing-inventory/(subscription required)
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