A new report from the federal government shows sales and construction of new homes fell in June – but there’s no sign of slowing here in the Triangle.
Part of the issue is a serious shortage of supply in the Triangle, which isn’t enough to keep up with demand.
The report shows inventory is up nationwide, enough to meet demand for a little over six months – but here in the Triangle, there are only enough homes for sale to keep up with about two and a half weeks worth of demand.
The latest local market update from Triangle MLS shows a 17% increase in inventory from May to June, but that’s still 60% less than last year.
“We’re looking right now active homes on the market in the five…