WHY IS THE HOUSING MARKET HO-HUM IN A BOOMING ECONOMY?
Those circumstances normally would have triggered a boom in home construction and home sales, but that has not happened.
Although mortgage rates are extraordinarily low, touching 3.77% last week with steady job growth for a decade, home sales are down 2.2% this year and have been essentially flat since 2014. New home sales have followed a similar trajectory. And residential construction has not even recovered to its annual average based on data back to 1960.
Fishkind tells 90.7’s Nicole Darden Creston what’s causing the odd behavior of housing markets, especially across Central Florida.