An increase in home construction and gradual return of first-time buyers is one reason to celebrate, but Realtor.com’s Chief Economist Jonathan Smoke is more conservative with his optimism.
According to Smoke, builders don’t have the capacity to handle a significant increase in just a year, the Wall Street Journal reports. Hence, even with the forecasted resurgence of first-time homebuyers and an increase in inventory, Smoke says: “I’m pretty skeptical of, even if the demand were there, the ability to deliver more than 25 percent growth because of lot availability.”
