As we shared in our Newsfeed post on November 16, a deficit in single-family homes is on the horizon. A shortage of homes means more demand than supply, which will raise prices. Take advantage of the lower construction costs and interest rates available today by building your dream home now. Dreambuilder Custom Homes is ready to help!
WASHINGTON – Nov. 18, 2010 – Annual single-family housing production in 2008 and 2009 fell about one million units short of the housing that would be needed in a normally functioning economy, suggesting that builders will have a lot of catching up to do as the economy improves and household formations return to trend levels, according to a special study by economists at the National Association of Home Builders (NAHB).
The report, “Extent of Underbuilding in the Single-Family Housing Market,” found an excessive amount of single-family building from 2003 through 2005. But overbuilding largely ended by 2006, and the subsequent downturn was severe enough to more than offset the annual surpluses. This year is likely to add to the growing deficit of single-family homes by another one million units, according to the report.



