NAR STATES A NEED FOR MORE SINGLE FAMILY HOME CONSTRUCTION

NAR STATES A NEED FOR MORE SINGLE FAMILY HOME CONSTRUCTION

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NAR HOME Survey Underscores Need for More Single-family Home Construction

WASHINGTON (March 15, 2016) – Over three-quarters of surveyed households would purchase a single-family home if they were to buy in the next six months, and 79 percent of renters would choose to buy outside of an urban area, according to the second installment of the National Association of Realtors® new quarterly consumer survey. The survey also found that confidence about now being a good time to buy is waning amongst renters, particularly in the West – where prices have solidly risen.

In NAR’s first quarter Housing Opportunities and Market Experience (HOME) survey, respondents were asked about their confidence in the U.S. economy and various questions about their housing expectations and preferences, including a question on if they were to purchase a house in the next six months, what type of home and in what area would they choose to buy.

The survey data reveals an overwhelming consumer preference for single-family homes in suburban areas. Most current homeowners (85 percent) and 75 percent of renters said they would purchase a single-family home, while only 15 percent of homeowners and 21 percent of renters said that would buy in an urban area.

Lawrence Yun, NAR chief economist, says the survey findings call attention to the glaring need for more supply of single-family homes. “The American Dream for most consumers is not a cramped, 500-square-foot condo in the middle of the city, but instead a larger home within close proximity to the jobs and entertainment an urban area provides,” he said. “While this is not a new discovery, supply and demand imbalances and unhealthy levels of price growth in several metro areas have made buying an affordable home an onerous task for far too many first-time buyers and middle-class families.”

According to Yun, it’s time for homebuilders to double their focus on constructing single-family homes. With millennials increasingly buying in the suburbs – as NAR reported earlier this month – tight inventory and affordability concerns will likely worsen without significant headways made in housing starts in relation to job creation.


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My name is Stephanie Albright and I specialize in helping buyers and sellers invest in real estate in South Florida, Treasure Coast and the Palm Beaches. I have 15 years of experience in the real estate industry which allows me to bring tools and solutions that exceed the expectations of my clients. I currently hold real estate licenses in Florida and Tennessee.


I am pleased to say that I educate myself on an ongoing basis to learn everything new about my business. The real estate business changes quickly, so I’m dedicated to being an expert in my field. I have designations such as, Short Sale Foreclosure Resource, (SFR) and I’m a graduate of the Graduate Realtor Institute (GRI). I’ve also been an Exit franchise owner and managing broker. I take my business very serious, so I’m able to share my knowledge with my valued clients.
I love my affiliation with an awesome company like Exit Realty, and Exit has the best tools and support, in the business. If you are considering listing your property in West Palm Beach, Wellington, Lake Worth, North Palm Beach, Boynton Beach, Palm Beach Gardens, or Loxahatchee; ask me about my latest internet marketing systems, strategies and websites. My website is: http://www.WPBareahomesearch.com. I would love the opportunity to earn your business and look forward to partnering with you to buy or sell your home.

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Dated: March 21st 2016
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