A common theme in the national real estate market this year has been regular discussions, stories, and videos focused on the low housing inventory projection over the foreseeable future.
In the months leading up to the budding spring market, this has left many REALTORS and real estate buyers/sellers wondering just what the supposed busiest time of the year will look like. Are sellers going to list and take advantage of a sellers market? Will buyers be competing with one another over the limited inventory?
It’s hard to say for sure just where the market may be in the next few months, but one encouraging sign is that new constructions may be on the rise sooner than later.
According to HousingWire.com, economists predict upwards of one million housing starts (translation: breaking ground on constructions) in 2020. You’d have to assume much of this was driven by the growing demand for homes, but in reality, the lower costs on building materials combined with the demand, may be the perfect recipe for housing projections throughout the year.