Newly Built Homes Face Affordability Issues, According To Analysts

Newly Built Homes Face Affordability Issues, According to Analysts

Home sales are down compared to the same time in 2020, according to a report from the U.S. Census Bureau, but prices are on the rise everywhere. This is due to a lack of available inventory compared to existing demand. However, at least one analyst believes that the current situation will not last, and as more newly built homes flood the market, it is likely to reach an affordability tipping point that will cause prices to drop.

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Real Estate Sales In NYC Suburbs Down Due To Lack Of Inventory

Real Estate Sales in NYC Suburbs Down Due to Lack of Inventory

According to a recent Crain’s article, the suburbs of New York City have seen a drop in the number of people purchasing real estate for several months in a row. However, this drop in property sales has nothing to do with a lack of demand. Rather, demand has substantially outpaced the number of properties currently available for sale, leaving real estate sellers with relatively little inventory to sell.

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