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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Housing Supply Not Keeping Up with Population Increase

Housing Supply Not Keeping Up with Population Increase | Simplifying The Market

Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.

The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List,

“From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.”

When the housing market crashed, the number of new homes permitted decreased to its lowest level in 2009 (see below):Housing Supply Not Keeping Up with Population Increase | Simplifying The MarketSince then, supply and demand have been out of balance when it comes to new construction. According to the same report,

“Construction of single-family homes has recovered much more slowly — the number of single-family housing units permitted in 2018 was barely half the number permitted in 2005.”

Why is new construction so important?

As the U.S. population increases, there is also an increase in the need for new homes. Today, new construction is not keeping up with the increase in the nation’s population. The report continues:

“The total number of residential housing units permitted in 2018 was roughly the same as the number permitted in 1994, when the country’s population was 20 percent less than it is today.”

Essentially, the dip in home building coupled with the steadily increasing U.S. population means there is now a selling opportunity for homeowners willing to list their current houses.

Bottom Line

If you’re considering selling your home to move up, now is a great time to get a positive return on your investment in a market with high demand. Let’s get together to determine the specific options available for you and your family.

 

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
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$799,000
3
BEDS
2
TOTAL BATHS
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580 Rio Vista Avenue Daytona Beach, FL 32114
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
5967 Plantera Court Port Orange FL 32127
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$415,000
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5967 Plantera Court Port Orange, FL 32127
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Charming Pool Home with No HOA!This well-maintained 3-bedroom, 2-bath home checks all the boxes including a fully fenced backyard and a private pool! Major updates include a NEW ROOF(2022), AC system (2023), and updated electrical panel. The water he

Listing courtesy of Listing Reciprocal of Nonmember office
1335 Lambert Avenue Flagler Beach FL 32136
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$1,250,000
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1335 Lambert Avenue Flagler Beach, FL 32136
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Luxury Estate Living in Flagler Beach. Nearly 2 Acres of Tranquility! Welcome to an exquisite custom-built luxury estate nestled in an exclusive community of Flagler Beach. Situated on 1.74 private acres at the end of a quiet dead-end street, this re

Listing courtesy of Jack Corbett of Coldwell Banker Premier Properties
20 Twelve Oaks Trail Ormond Beach FL 32174
New Listing - 17 minutes on site
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$1,950,000
5
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20 Twelve Oaks Trail Ormond Beach, FL 32174
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Not just a home... Twelve Oaks Trail is a lifestyle! Tucked away at the end of a quiet CUL-DE-SAC in the desirable Trails community of Ormond Beach, this extraordinary CUSTOM WATERFRONT ESTATE sits on 1.31 ACRES surrounded by mature trees with a SCRE

Listing courtesy of Jennifer Wemert of Wemert Group Realty

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SEARCH ALL HOMES IN THE GREATER DAYTONA BEACH AREA HERE

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Related posts:

  1. A Lack of Inventory Continues to Impact the Housing Market
  2. Experts Predict a Strong Housing Market for the Rest of 2019
  3. How to Increase Your Equity Over the Next 5 Years
  4. A Great Way to Increase Your Family’s Net Worth

Posted in: Blog, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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Today’s Real Estate Information

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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