The housing market is experiencing a surge in prices and construction that is backed by Fannie Mae. The lack of available existing homes for sale is a major driving factor of the market, causing a chain reaction: higher demand and limited supply leads to price growth. Additionally, the affordability and accessibility of mortgages is a contributing factor to the housing market.
The new construction market is supported by these changes and is leading to a wider range of homes becoming available. Homebuilders are taking advantage of the market conditions, leading to more supply and homes that range from entry-level to luxury. Along with improved construction technology that is creating homes more quickly, faster access to home-buying is opening the doors to new customers.
Important Elements:
• Lack of available existing homes for sale driving prices up
• Mortgages are accessible to new customers
• Homebuilders taking advantage of the market
• Improved construction technology contributing to faster access
• Homes range from entry-level to luxury
You can read this full article at: https://www.housingwire.com/articles/fannie-mae-raises-2023-origination-to-1-62t/(subscription required)
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