The latest numbers came out and housing starts have decreased. We have noticed it here in Clark County WA. You can see a lot of builders in town have not been buying new land for neighborhoods, and they continue to close out neighborhoods they currently have. If this does continue in the near future (it is hard to believe) but we may be in a position where there is a shortage of available new construction due to the fact that you don’t see any new developments popping up. This would be good to get rid of some of the inventory of existing homes to get us to where we need to be on the other side with this industry.
Sr. VA Loan Specialist