Builders are shying away from multifamily homes because of supply and cost issues. But single-family homes are cheaper and faster to build.
But one economist warns it’ll “take decades of building, not just one good year, for the market to come back into a healthy place.”
Mortgage rates are up. Realtors are being laid off.
As that omicron wanes and weather warms, analysts expect building to pick up. That doesn’t mean it’ll make a dent in the housing shortage.
Last month's flooding did not help matters.