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Why housing prices will continue to go up.

I was looking at news stories that I saw this one in https://magazine.realtor/ that talked about the building slow down in medium priced homes and that will effect home prices in a very positive way. Remember 2008-2016 large new home subdivisions where almost non-existent. Fast forward til today inventory shortage.

"More construction for single-family homes was underway last month, possibly offering a small relief to markets experiencing an ongoing housing shortage. Most economists, however, say it’s not nearly enough to keep up with buyer demand."

As I have said in past blogs the inventory will be a problem. Permits and Labor through a lot of Ohio cities will take a long time. Labor is scarce and not always reliable that creates longer timelines which cost the contractor extra money. 

Having a good team of professionals around you can make all the difference in the world when locating, rehabbing and leasing a property. That is why I decided to have all the services that are needed to be successful in real estate under one roof for the last 9 years! It helps me and my clients make easier and faster decisions. 

Check out the video below to see how we look at real estate.

"Builders have reported several challenges in ramping up new-home inventories in markets nationwide, despite persistent calls from the real estate industry to do so. Builders say labor and lot shortages and the rising costs of building materials have prevented them from increasing construction."

There are so many variables to building new housing stock. The existing housing stock will only benefit from the the new builds. The existing stock has already been built and only needs to be updated to get more equity in a property. 

With the new housing shortage and builders having issues with building new homes, prices will continue to go up. That is great news for existing home owner and ones that are looking to buy a property for a home or investment.

There are still great deals out there and if you want to find them call me I'm Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Arizona 

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