US Real Estate Market - Excess or Lack of Homes And What Does It Do For Prices?
According to bloomberg.com Sales of new homes in November 2019 have risen again, summing up the highest three months since 2007. New private homes for example were bought at a rate of 720,000 per year. The growing demand is a result of low mortgage interest rates, a strong employment market - the lowest unemployment since 1969 and an increase in personal income.
According to the American Realtors Association, the number of homes for sale in the entire U.S. in November was 1.66 million, which is the lowest number since they began measuring it in 1999 and down 5.7% from November 2018. cnbc.com This shortage also fuels the demand for new homes.
2. North Carolina Charlotte - 25%
3. Nashville Tennessee - 30%
4. Orlando Florida - 24%
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