🚨 No, Housing Boom isn’t Over 🚨
28 Jul 2021
The housing boom is still going strong as of July 2021, despite headlines suggesting it's cooling. Microchip shortages are constraining builders, but demand remains high and new home sales keep climbing.
The housing boom is still going strong as of July 2021, despite headlines suggesting it's cooling. Microchip shortages are constraining builders, but demand remains high and new home sales keep climbing.
Some media reports starting to talk about the home housing boom might be over. We're getting this from a recent report that showed new home sales were down for the first time in recent memory. However, new home sales are only 15% of all home sales. The other 85 are existing home sales. Those are still booming. And the big thing is builders just slow down. There's a ton of demand, but microchips are slowing down. Every appliance and new homes has a microchip. So the same thing is slowing down the auto industry. And the big proof is another report came out today showing that 16% increase year over year in home values. So we're not slowing down 2% in the last month. Houses are booming.
