Despite recent increases, new-home inventories remain near all-time lows and are unlikely to return to their highs any time soon, according to a new analysis.
The
rise in single-family inventory levels over the last few months bring
them back only to 2012 levels. What's more, the supply of condos
continues to be at record lows, with fewer new high-rise developments
and condo conversions occurring now than in the mid-2000s. From
1984 to 2014, there was an average of 9,900 units on the market. The
current inventory is 72 percent below the average of the last 30 years
and 79 percent below the average since 1971. Why are new-home inventory levels so low, and why will supply not likely reach the previous highs? See following reasons:
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