New Construction Falls to 5-Year Low as Price Floor Nears
This isn’t a “good” housing market for anyone. Affordability remains a major barrier to homeownership. Sellers aren’t getting what they want for their homes. Now, builders are signaling that the current housing shortage could get even worse. It’s bad news for aspiring homeowners, but could it finally put a floor on this housing market correction?
This week’s headlines highlight how affordability challenges are reaching every corner of the housing market—not just for buyers. A perfect storm of high interest rates, stagnant home prices, and rising material and labor costs is putting builders…
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