When shopping for a house, you’re limited to the homes that are on the market at the time you’re looking. That means, though the home you’re dreaming of may be out there, it also may be owned by a happy homeowner with no plans of selling. This is among the reasons why the number of homes for sale is so important. Not only does higher for-sale inventory keep prices in check, it also boosts buyers’ chances of finding something that fits their wish list. In other words, the more homes there are for sale, the better it is for home buyers. And, according to the most recent numbers from the U.S. Department of Housing and Urban Development, there’s reason for encouragement. That’s because the number of new single-family homes built in June increased 3.5 percent from the month before. Greg Ugalde, chairman of the National Association of Home Builders, says demand from buyers is helping push builders to build more houses. “The monthly pick up from May to June in single-family starts is in line with the slight rise in our latest builder confidence survey, as demand remains solid due to a healthy job market,” Ugalde said. If the trend continues and construction of single-family home keeps climbing, the market will be more balanced and home buyers will have a better chance of finding a home that fits their needs and budget. More here.
