Summary List Placement
Insider has been warning of a potential inventory crisis in the housing market since last summer. It’s just gotten worse since then, with a record low number of homes for sale.
Builders are racing to catch up.
New residential construction surged more than anticipated in March as builders rushed to address the massive supply-demand imbalance in the housing market.
Home starts leaped to a seasonally adjusted annual rate of 1.74 million units last month, the Census Bureau said Friday. That’s up 19.4% from the revised February reading. Economists surveyed by Bloomberg expected starts to rise to a details ⇒
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