Home buyers are struggling to find enough choices, and competition remains tight. But in some markets, new-home construction is ramping up and more homes are likely to help relieve some of the pressure in the near future.
The National Association of REALTORS® recently identified the areas most likely to have the most homes coming to the market in the upcoming months. Researchers factored in housing starts and building permits (a gauge of future construction).
But even in these markets, inventory shortages may continue to abound due to the rise in buyer demand. The following chart from NAR shows just how many homes need to be added to these markets in order to return to a more average inventory level.
Read more about the analysis at NAR’s Economists’ Outlook blog.
Source: "Where to Find a Home: Areas With Great Opportunities for Homebuyers and Homebuilders,” National Association of REALTORS® Economists Outlook blog (April 27, 2021)
