为什么住房供应如此之低?

It’s not just your neck of the woods: homes priced between $200,000元及300元,000 are hard to find in most Texas markets. 8月, Texas had less than two months of housing inventory for those properties, according to the Real Estate Center at Texas A&米大学.

“You have people who want to buy a home and can—with job security, 收入水平, and everything else they would need—but they can’t find a home in that price range,” says Real Estate Center 研究 Economist Luis Torres.

In fact, Texas had three months’ inventory or less for any price below a half million dollars. Demand remains strong even after this summer’s buying frenzy. Here, according to Torres, are the reasons why demand exceeds supply:

房屋建筑商正在迎头赶上. Before COVID-19, homebuilders were trying to meet the demand for homes under $300,000. Shutdowns in the construction industry have delayed new inventory.

土地价格正在上涨. To make a profit on more-affordable homes, homebuilders are building in cities’ exurbs, 那里的土地更便宜. 但随着各地地价的上涨, there’s less affordable land on which to profitably build these homes. This trend has only accelerated during COVID-19.

More Millennials have entered the market. More first-time homebuyers means more competition for affordable homes. Many Millennials have more education and job security, so they are less likely to be affected by the pandemic’s economic effects.

Prospective homebuyers aren’t as affected. The pandemic’s economic effects are being strongly felt by renters and low-wage earners. In general, many people shopping for homes are still employed and/or working from home.

COVID-19正在创造新的偏好. Many prospective homebuyers are looking farther away from cities to afford larger homes in less densely populated areas with newly prized amenities like home offices and outdoor space.

利率处于历史低位. Homebuyers want to take advantage of this opportunity before rates rise again.

房价持续上涨. Properties that sold in the $200,000-$300,000 range a few years ago might be worth more now.