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Developers Are Betting Big On These 10 Housing Markets


Inman Connect
Housing markets across the U.S. are booming with high demand and low inventory, and it’s sent land prices into a frenzy.
Land is a hot commodity right now, as the lack of homes for sale continues to push affordable housing out of reach for many first-time homebuyers and low-wage workers.
According to a report by the National Association of Realtors (NAR), the U.S. fell short of an estimated 5.5 million new units from 2001 to 2020 compared to 1968 to 2000. When the housing boom cemented last year, supply began severely underserving demand.
“When housing demand really accelerated in May, June and July of last year with historically low interest rates, the industry couldn’t simply turn on a dime and suddenly build 30 percent more than they were a quarter, or a year ago,” Robert Dietz, a chief economist at the National Association of Home Builders, told Inman. ....

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Housing market booms, prices rising in Spokane-Coeur d'Alene region


Housing market booms, prices rising in Spokane-Coeur d’Alene region
Area struggles to keep up with demand for homes
By NICHOLAS K. GERANIOS, Associated Press
Published: July 3, 2021, 5:45pm
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FILE - In this August 2014, file photo, paddlers head under the Don Kardong Bridge as they enjoy the Spokane River just upstream from downtown Spokane, Wash. The Spokane real estate market is booming. Spokane County s median home price in May 2021 reached another all-time high at $375,000. That was 29.5% greater than the $289,900 median in May 2020, according to the Spokane Association of Realtors. (Rich Landers/The Spokesman-Review via AP, File) (kathy plonka/The Spokesman-Review) ....

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