The news is not so great for buyers but strong for sellers of single family homes in 2020. With inventory dropping while demand increases, we are looking at a lead in to 2020 where unless we see an uncharacteristic increase in the number of home owners that list their home for sale, the competition for the homes available for sale is going to be fierce!
One piece of good news is that new home construction has shown a big jump over the last couple of months. While permits are down month to month in the most recent showing, we are still ahead of last year. So at least we will be seeing home builders bringing more single family homes on-line than we have seen at any time in the last 13 years! It still is not likely to be enough, but it might just keep things from going completely nuts!
Here is a link to a great graph that will let you explore the home building trends over the years. To give you a feeling for what the numbers of done over the last 25 years, here is that graph.
Take a look at that jump for the most recent months. That is a dramatic increase that gets us to just about where we were in 2007!
For all that and more, check out todays podcast!
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