The memories of 2007 through 2011 are clouding too many people’s vision. There are plenty of legacy problems from the housing boom that have yet to clear, and plenty of risk to the downside, but the demand, supply and affordability measures are in place to help us put the housing downturn behind us and move forward. We are leaving stage one of the recovery and moving into stage two. Don’t miss the ride.
New Demand > New Supply
1,838,000 jobs created in the last year
717,000 annual pace of construction
= 2.5 Jobs / Housing Unit
Resale Demand > Resale Supply
6.6 month supply versus 7.3 month normal supply
Affordability
Lowest Housing Costs / Income Ratio in My Lifetime
