While we have seen that home values and prices are going up, the number of building permits (Census Bureau Building Permits Survey) dropped precipitously for the same period (Jan-April) in 2020 when compared to 2019, and has not bounced back in 2021. Currently, commodity prices are soaring, and land and skilled labor are in limited supply with inflationary pressures growing in the expanding American economy. According to several estimates, home prices will continue to rise through 2023 as development fails to meet demand.
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