Builders are mostly working on apartments and condos, and are still waiting to commit to more residential construction.
Builders are shying away from multifamily homes because of supply and cost issues. But single-family homes are cheaper and faster to build.
But one economist warns it’ll “take decades of building, not just one good year, for the market to come back into a healthy place.”
Mortgage rates are up. Realtors are being laid off.
As that omicron wanes and weather warms, analysts expect building to pick up. That doesn’t mean it’ll make a dent in the housing shortage.
Last month's flooding did not help matters.
