The existing home sales market, in particular the single-family housing segment, is in a state of fragile and uncertain recovery from the consequences of the health and economic crisis. Despite high levels of consumer demand, homebuilder activity is lagging, as COVID-19 continues to present risks to the housing industry as a whole.
Homebuilders are eager to capitalize on strong consumer demand, however fear of rising materials costs, increased regulation, and the continued spread of Covid-19 could cause them to pull back. This has created an ever shrinking pool of available housing stock, where those that can afford it are able to take advantage of low interest rates, making the search for a home even more competitive.
Important Elements:
– Existing home sales market in fragile condition, single-family housing segment
– High consumer demand
– Homebuilders reluctant to capitalize due to risk of rising materials costs and increased regulation
– Spread of Covid-19 causing pull back
– Residential real estate market highly competitive, due to low interest rates, and shrinking availability of housing
You can read this full article at: https://www.housingwire.com/articles/datadigest-the-homebuilders-are-busy-but-theyre-not-busy-enough/(subscription required)
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