The housing market still can’t keep up with millennial demand even after its best year in a decade
|01/20/2018||Posted by BusinessMediaguide.Com under General World News||
- New residential construction in the US rose to a 10-year high in 2017, the Census Bureau said in a report Thursday.
- But the number of entry-level units still falls short of demand from millennials.
- Homebuilders cite rising land and labor costs as barriers to new construction.
By some measures, the housing market just had its best year in a decade.
On Thursday, the Census Bureau released its final report on new residential construction, completions, and building permits in 2017. All three rose to the highest levels since 2007.
Construction was strongest in the market for single-family houses — the type read more >>>