Each decade of new house construction increased until we got to 2010-2019. This article is based on the numbers in the Statista Research Department report dated 11/6/2020.
From 1900 -1909 there were 5.3 million homes built,
1910-1919 - 4.3 million
1920 - 1929--9.23 Million, post-WWI Era
1930-1939--5.42-This was the era of the great depression,
1940-1949-9.5 million,
1950-1959-21.38 million, Post WWII Era
1960-1969-20.21 million,
1970-1979-25.8 million,
1980-1989-25.1 million
1990-1999-26.6 Million
2000-2009-27.0 Million
2010-2019-5.8 Million
We are not having a boom, we are just trying to catch up with the need for housing that was not addressed in the last decade. I expect it will take more than 10 years of house building to address our needs. Waiting for a better time to sell? This is it. As more houses are built and added to the market, the demand for used/older homes will reduce.
In 2010-2019 on 5.8 million houses were built, baby boomers were downsizing but no one addressed the new homes needed for young families or for families who needed to move up.
If you are thinking of downsizing or moving up, call me for an estimate on what you will net in this market. The answer is in the numbers, now it's time to sell.
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