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Will Springer Realtor - Untitled Article

Will Springer Realtor

Housing inventory nationwide flipped from oversupply to undersupply about a dozen years ago when consumers and the banking industry began to slowly rebound financially from the Great Recession. America’s shortfall is most acute with the most vulnerable, as affordable housing inventory has been shrinking for decades. shy of the need.

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SELLERS’ MARKET? HOW ABOUT BUILDERS’ MARKET?

Will Springer Realtor

Amid rising land and construction costs, permits for single-family homes in King County slowed in the third quarter to 940, down 7.8% Lot availability is at multi-decade lows and the construction industry currently has more than 330,000 open positions.”. construction jobs in the U.S., year-on-year (YoY), according to U.S. “In

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Expectations for 2023 in Seattle/King County Real Estate

Will Springer Realtor

That real estate party of unquenchable buyer demand against a backdrop of low inventory is over. Fuel to fill our vehicle gas tanks and to transport goods weigh heavily on inflation; 18% of the Consumer Price Index is for transportation costs – the second largest component of the CPI after housing/shelter (42%). in 12 months.

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Millennials Expected To Maintain Real Estate Buying Intensity

Will Springer Realtor

Now, home builders would need to construct as many as 1.2 This was the fastest pace for combined single-family and multi-family construction since June 2006. >> The lack of inventory to keep real estate moving is confirmed with the latest data on U.S. We are on the right track. million units. existing home sales.

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Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

In this analysis, we also show you current data along with key lessons from both the 2015 oil price crash and the 2008 great recession. On the other hand, the four restaurant workers would still need to spend monthly payments for rent, food, transportation, and insurance. Remember: real estate is hyper-local! Buyers Beware?

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Will Springer Realtor - Untitled Article

Will Springer Realtor

Whether it was cutting red tape and construction costs or ensuring our cities allow more affordable options near transit and jobs, these bills, working together, mean more homes, at more affordable prices, in communities all across our state.” Falling new inventory is constraining transaction volumes while also supporting higher home prices.