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“I have not seen us write more than two offers before getting an acceptance, whereas before it was writing offer after offer after offer,” said Houston real estate broker LaTisha Grant.
Some sellers who have delayed putting their homes on the market are now doing so, but inventory is still lower than normal.
But not because it’s easier to buy.
The increase in housing supply will help bring down, or at least steady, prices, experts say.
In the midst of a lagging housing market, builders hope for easier terms on mortgages and construction loans.
The more low-income housing nonprofits have to pay for insurance, the less they have leftover to build new units to ease the housing shortage.
The price of lumber has plummeted since early in the pandemic, but other building materials are up 30% from 2019.
Sales were cold and prices were hot.
There are millions of empty homes in Japan. A growing number of immigrants are buying and renovating them.
Inflation, climate change and zoning laws have increased rents and building costs. Developers are focusing on high-priced luxury units.