The number of new home sales is far off historic norms. The National Association of Realtors (NAR) just
This should come as no surprise as the number of new housing starts has fallen dramatically over the last several years:
We need more new construction for two reasons:
- It will relieve some of the pent-up buying demand that is causing price appreciation to continue to increase well above historic norms.
- It will give better opportunities to many current homeowners who want to sell but can’t find an adequate home to move in to.
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