Housing Construction Bounces Back: What It Means for You
Hey there! I wanted to share some exciting news about the housing market that could impact your home buying or refinancing plans. In June, we saw a significant rebound in residential construction, with housing starts jumping by 19%! This means builders are back to work, and we can expect more homes to hit the market soon.
Most of this increase came from multifamily units, like apartments and condos, which shot up quite a bit. However, single-family home starts remained pretty steady, only dropping slightly. So, if you're looking to buy a single-family home, the inventory might still be limited, but this uptick in construction could bring some relief in the coming months.
On the flip side, building permits, which indicate future construction plans, have dropped a bit. This shows that while builders are picking up the pace now, they’re still being cautious about what’s next. It’s a good reminder that while the market is picking up, there might still be some uncertainties ahead.
If you’re thinking about buying, selling, or refinancing, now might be a great time to reach out to me. I can help you navigate these changes and find the best options for your situation!
