Buyers are absorbing the increased costs of new construction lots
By Caroline Feeney | inman
he home price surge happening across markets right now feels uncomfortably familiar. 2006, anyone?vIndeed, prices are back to levels that they hit at the peak of the bubble. But this time different forces are at play, said HomeAdvisor Chief Economist Brad Hunter in a presentation at the National Association of Real Estate Editors conference. Rising home prices are being driven by “shortage, not speculation.”
“As we think about how homebuilders are doing, first we have to look at how homebuyers are doing,” Hunter said.
“Spoiler alert: They are feeling stretched.”
