In May, single-family housing authorizations grew 25.88% year over year. However, housing starts have lagged permit volumes, which has slowed growing the housing stock. Prolonged inventory shortages and sky-high home prices have pushed homebuyer sentiment to record lows. Meanwhile, remodeling activity grew across most major metros, with Philadelphia and Chicago experiencing the most substantial growth …
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In May, housing activity significantly increased, year over year, across all major indicators. Despite strong growth, intense housing supply shortages and sky-high prices still plague the market and pushed homebuyer sentiment to records lows in May. Although single-family housing authorizations are up 25.88%, year over year, housing starts are lagging new construction permits, prolonging inventory …
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