Where Are The New Starter Homes? | Housing Market

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Where Are The New Starter Homes?

New Starter Homes? Not Enough Profit to Build The traditional lifetime moves from smaller to larger homes may be permanently disrupted due to limited amounts of land and rising construction costs. The USA is having a major affordable housing crisis, especially for first-time homebuyers looking to purchase a home ranging from 1,800 to 2,400-square-feet. Homes ranging in price from $100,000 to $250,000, the typical cost for an entry-level home, have seen nearly a 28% decrease in inventory from a year ago. "... clear evidence that higher mortgage rates and double-digit growth in home prices are discouraging a growing share of buyers from engaging in the purchase process." active buyers fell in the South from 58% to 48% during the past year.

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