We are experiencing one of the biggest shifts in housing in American history. There are some accelerating post COVID trends that are simply shocking from an economics perspective.
Streamline Communities analyzed MLS and Realtor data and found that the urban supply is increasing and the suburban supply is decreasing. For the City of Boston, the supply has increased 53 percent year over year, tipping Boston into a buyer’s market. On the other end of the spectrum, the Central Middlesex Region supply has diminished by almost the same percentage, 52 percent, creating an incredibly strong seller’s market.
We expect we are about to see a large drop in urban prices and we are uncertain how long suburban prices will continue to rise. The opportunities in secondary and tertiary markets are where it’s at for residential builders now and for the next few years.
Connect with New Homes CEO Tom Skahen