January saw existing national home sales rise to a ten year high around the country except for the Midwest. However, home inventory is at a low of a 3.6 month supply. This is lower than the 6 month norm. The Commerce Department reported that new construction is coming in above expectations. The good news is this shortage can be reversed with new construction.
Around the Pensacola area, I have heard of several new subdivisions that are in the development stage or actually breaking ground…. Like the one by Gulf Beach Hwy and Blue Angel Pkwy.
We have the demand for homes but low inventory here in Pensacola…. Are you planning on selling your home soon?