- June 19, 2021
- Posted by: Stratford Team
- Category: Business
Angel Oak Capital Advisors CIO Sam Dunlap breaks down the ‘historic supply and demand mismatch’ that has construction lagging behind historical levels.
For the U.S. housing market, the sky may be the limit as a new level of higher prices becomes the norm, according to experts.
The current environment can withstand higher interest rates as the COVID-19 pandemic caused a flight out of city centers and into regional hubs and the suburbs,
The median sales price for new homes was $372,400 last month, according to the Federal Reserve Bank of St. Louis, just below the all-time high of $373,200 that was reached in January. Prices were up 20% from the year prior when the economy was in lockdown.
“Home prices are reaching a point where it is kind of a correction to a higher price level,” said Stuart Miller, executive chairman at Lennar Corp., the second-largest U.S. homebuilder with a market capitalization of $29 billion.
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