While inventory is still an issue for the housing market, housing starts continue to be a bright spot in the tight market according to Trulia Chief Economist Ralph McLaughlin. HousingWire staffer Kelsey Ramirez takes a look at how this part of the market shines as the rest deal with less.
May saw increases in single-family housing completions but also a decrease in single-family homes authorized by building permits. Ramirez points out that may not be enough housing for everyone:
"We have just barely touched the low from the 91-92 recession, which also was the result of a frothy real estate market," said Brent Nyitray, director of capital markets at iServe Residential Lending, in an email this morning. "If the government wants to get the economy going, it should be asking the question why housing is still so depressed in the face of such tight inventory and high demand."