Lack of New Home Construction Could be a Bad Omen for New Buyers

Trouble in paradise? By most standards, the national real estate market is booming. But not for everybody: Aspiring buyers frustrated by the lack of available properties and soaring price of homeownership shouldn’t expect to catch a break anytime soon.

With the pace of new home construction lagging well behind the surging demand for these residences, it looks like the housing shortage is only going to get worse.

Just 81,100 new homes were completed in May—down 3.3% from 83,900 in the same month a year earlier

Read more: http://www.realtor.com/news/real-estate-news/new-home-construction-may-2016/

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