Is the Housing Market Frenzy Really Going To Cool Off This Fall? A Positive Path for my Client.

Ready for a hopeful inventory story in residential real estate? New construction is beginning to pick up after months of builders contending with shortages in lumber, labor, materials, and appliances. While there are still delays compared with before the pandemic, building consultancy Zonda reported a 5% uptick in construction in August compared with July. And with that, I am excited to report that my client's new townhome below is under roof, windows are in place (since the picture was taken), and the electrical rough ins and plumbing are currently being installed. Countdown to occupancy in January. Back to the broader market, residential inventory remains tight. Any seasonal slowdown in the frenzy doesn't mean pricing will fall anytime soon. According to a recent Realtor.com article, the nation is still suffering from a severe housing shortage resulting in more buyers than there are homes for sale. Meanwhile, the millennial generation is larger than the previous one, meaning there are more prospective buyers than there were a decade ago.

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