Home building analyst Ivy Zelman, speaking to Barron's last week, said whether you're counting traditional single-family homes, apartments, condos, or townhouses, the problem remains the same; there simply are not enough places for people across the country to live. In fact, the United States is at a 30-year low of inventory for sale, Business Insider reports.
This means that for the rest of this year, next year, and into 2018, double-digit housing-starts growth is predicted. A large portion of this new construction may be found in the entry-level part of the market (homes that typically cost around $250,000 or less), which has been hit especially hard by the shortage of homes.
According to Zelman, the builders who are already building for this specific part of the market are “killing it.” Perhaps as builders begin to realize the level of success they can have by building for this severely underserved subcategory of the market, more will enter into it.
To read the full report and view accompanying charts, click the link below.
