Growing demand is outpacing current U.S. housing market supply. How should builders and lenders respond? We caught up with home industry experts from Metrostudy and HomeAdvisor to learn more.
U.S. housing market supply vs. demand
Economic-related demand is outpacing the housing market supply. According to Metrostudy Chief Economist Mark Boud, job base and housing demand have eclipsed the housing supply. Boud shares five-year housing market predictions in this video.
The housing market forecast
While 1.3 million new households are formed every year, HomeAdvisor Chief Economist Brad Hunter says lot and labor supplies are preventing homebuilders from keeping up with housing demand.
Crucial economic timing — staying ahead of the curve
It’s important that banks and builders know when to buy, sell and hold, as their actions can have a significant impact on the economy. But Boud says these two groups represent lagging indicators, meaning they don’t make adjustments quickly enough.
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