Below is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Commerce report of a June rebound in housing starts:

“Though a recovery in housing starts in June is welcome news, more consistent gains are needed to help rebalance the housing market. The latest 1.22 million in total housing starts is still well below the historical average of 1.5 million. That is why the country is experiencing a stubborn housing shortage. With rising population and steady job gains, drastically more new home construction is needed to fully and satisfactorily house new households that will be formed this year and upcoming years.”  

 

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Source: Newsline

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.


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This Article Appears Courtesy of Steven Diadoo

Steven Diadoo, Licensed Realtor in MN with BRIDGE REALTY and best-selling author of 'Road to Success' with Jack Canfield (Chicken Soup for the Soul), Board Member at Bowling for Brains Non-Profit 501(c)3 (Event to benefit the American Brain Tumor Association), licensed Realtor with Bridge Realty, Seen on DIY TV, Create Channel and PBS. For help buying and/or selling a house, please call (952) 270-6141 or Click here.

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