LIME REALTY GROUP wants to continue today with another blogpost about our series on the housing shortage.
As we were discussing previously, an increase in the number of available homes for sale would ease but not erase the inventory constraint on the housing market.
The situation is slightly different for Southern Utah. We’re experiencing a huge demand for new home construction and builders are doing their best to meet this demand. Of course, most of this demand is coming from second home buyers and people who are retiring in the community. The types of homes these groups buy aren’t what’s considered affordable housing. That leaves preexisting previously owned properties for those looking for affordable housing options.
The biggest problem we’re facing is builders meeting the demand for affordable units. Because the market is geared towards larger, new homes, there’s not a lot of incentive for a builder to work in a project like townhomes or condos. And finding land zoned for that type of construction is also a problem. It’s difficult to find those areas and buy up the land.
So Southern Utah will continue to struggle with the supply not quite meeting the demand, but like we tell all of our clients, it’s just a matter of time before we find a perfect fit for your budget and your taste. So if you’re in the market, no matter on what end, take the time to call the clear choice for real estate. Lime.