Ashley Nicole Blog

 

07/25/2018

New Housing Is Just Around The Corner As Building Permits See Dramatic Increase

 

There’s no denying that the inventory crisis (which, according to the recent Housing Shortage Reportfrom Realtor.com, is the worst facing the US in more than 20 years) has made things difficult for buyers. But according to a According to the report, 1.3 million new building permits were issued in May 2018—up a solid 8% from last year. And housing starts (construction on new homes that’s been started but not completed) was at 1.35 million—up a whopping 20% from May 2017. (Both new building permits and housing start statistics are at a seasonally adjusted annual rate).

 

The Takeaway

So, if you’ve been thinking about buying a home but have been hesitant thanks to the high prices, crazy competition, and low inventory, get ready—all this new construction means things will be looking up soon.

 

Property Bin