I watched a webinar from MetroStudy last week with a focus on our national real estate market. Here are some great stats I learned—
Nationally we have 138 million homes in our housing supply, but there is demand for 141 million homes. This shortage is expected to increase from 3 million to 5 million by 2021.
New home values are overvalued, but not as overvalued as in 2005 and 2006.
The NAHB’s Remodeling Index is currently at 110 and it’s expected to increase to at least 120 in the next couple of years. This means more and more people are staying put in their current homes.
There was conversation of how fewer people will move into new homes or existing homes as mortgage rates rise. Who else has been saying this?