Nationwide New Home Construction Indicates Possible Supply-Side Relief

With existing home inventory moving faster these days due to record low interest rates, tight supply, and pent-up demand, rectifying the imbalance depends upon new home construction. Fortunately, nationwide indicators show possible relief on the horizon, with December housing starts up 28% year over year signaling the largest gains since 2006, with an annualized 1.67 million homes started for construction. Moreover, per the latest US Census Bureau report, permits for new construction also rose 4.5% in December, compared to November, to an annualized 1.71 million homes.

However, while housing starts and permits are up, developer sentiment may indicate good times for buyers are in no way guaranteed in the short-term because of supply-side headwinds, such as:

  • lack of affordable land
  • increasing lumber and material costs
  • shortage of skilled labor

All told, since new construction homes have been historically underproduced for the past 13 years, a strong new construction boom over the next couple years may be the only path towards balancing the tables between buyers and sellers. Learn more at Boston Agent Magazine’s article below:

December Housing Starts report offers optimism for 2021

About the Author

I'm a top-performing Realtor and the founder of Aviator Properties Team at Coldwell Banker Realty, the world's premier real estate brokerage. With over 20 years of business experience and a proven track record of success, I help clients buy, sell, and invest in extraordinary properties throughout Boston and Metro West. Based in Chestnut Hill, I operate out of Coldwell Banker Brookline and my home office in Newton, MA.

I have a broad range of expertise covering new construction luxury homes, antique historic homes, high-performance passive homes, multifamily investment properties, condos, townhouses, and single-family houses. My clients have benefited from this diverse background and my ability to decipher trends and provide strategic guidance on the ever-changing real estate market. From first-time homebuyers to seasoned investors, I am committed to delivering exceptional service and successful outcomes for each of my clients.

My experience is not limited to real estate. Previous to becoming a Realtor, I worked for a decade in TV production, earned my MBA at Babson College in Wellesley, and founded and served as CEO of my Boston-based startup, Mimoco, merging consumer products, toys, electronics, licensing, and content creation generating more than $30M in sales.

As an entrepreneurial problem solver, I bring a unique approach to real estate that draws upon my cross-functional skill set in finance, development, management, sales, marketing, and negotiation. My clients describe me as overly organized, detail-oriented, analytical, and a communicative professional who is trusted in delivering favorable results and creating win-win situations.

When I'm not helping clients achieve their real estate goals, I am a dedicated husband and father of two teenage children (and two crazy cats). In my free time, I enjoy playing tennis, drone photography, live music, and exploring the world through travel. As a private pilot, I also love to take to the skies and find new perspectives.

As your mission-driven co-pilot, I promise to go above and beyond to elevate your real estate experience to the highest level with the least amount of stress. Let me be your secret weapon in your home buying or selling mission. I value my clients and look forward to sharing my passion for winning at real estate with you!

Real Estate Accreditations: Massachusetts and National Association of REALTORS®, Accredited Buyers Representative, Luxury Property Specialist, Resort and Second-Home Property Specialist, NAR Green