Many future and current homebuyers are seeing brighter days ahead for the new home construction sales. The Housing Trends Report showed 29% of those who were looking to buy a home felt that they housing availability was better. In fact, there was a 2% increase from the last quarter in 2022 to the second quarter of 2023 from 24% to 26%.
The overall perspective has been more positive among all the regions across the U.S. We saw a big impact from the last quarter of 2022 to the second quarter of 2023. In the Northeast it increased from 28% to 36%, the West 27% to 34%, the Midwest 19% to 25% and the South 24% to 27%.
Although the regions changed in a positive light in all regions, the changes were more drastic in some regions over others. From the final quarter in 2022 to the second quarter of 2023 the inventory perceptions increased in the Northeast from 26% to 42%, the Midwest from 23% to 28% but in the South it went from 32% to 31% and the West from 31% to 30%.
The Housing Trends Report (HTR) is based on research done by the National Association of Home Builders (NAHB). The goal for the report is to measure perceptions about the availability and affordability of homes for sale in their markets. The report comes out quarterly.
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