So here’s another interesting article that I received. It was talking about the housing shortage. And it said that the biggest challenge that today’s housing markets faces is the shortage of inventory for sale.
Okay, as a Realtor, I can see that inventory is extremely low. And I can see that there is a shortage of housing. After all the normal market has a six month supply of homes for sale. And right now it’s less than 4 months supply. And this is what is causing the home prices to continue to rise.
So here’s the solution that someone came up with.
Build more homes.
Sounds simple, huh? But builders are jumping into the market and building more homes. And that is good. And an article in the Wall Street Journal said that home builders are shifting from building overly large luxury homes to homes at lower price points. Because the majority of buyers in the market seem to be people moving from rentals into their own homes. I don’t know about you, but I think it’s a great thing the builders are finally starting to build homes for the average person, not as they have been doing which is building homes only in the high-rent district.