Would-be homebuyers will be seriously constrained by soaring home prices, rising interest rates and a noticeable shortage of developable land, Starwood Land Advisors’ Mike Moser said in a recent discussion with John Burns Real Estate Consulting.
Moser told JBREC’s Dean Wehrli that new home sales will likely fall below 800,000 this year and likely won’t accelerate much in the near term. He says increasingly cumbersome entitlement processes in municipalities of all sizes are partially to blame.
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