Economists across the country are wringing their hands this summer over the state of the housing market. Most feel the pace of new construction lags well behind the demand. reports “81,100 new homes were completed in May—down 3.3% from 83,900 in the same month a year earlier.”

Says Jonathan Smoke, chief economist: “There’s no relief in sight. We’re not building enough housing.”

At the same time, the South reports the most new home construction in the US. The articles claims “about 43,800 new residences were completed in the region in May as more companies and people move to the warmer-weather and lower-cost-of-living states, according to the report.”

As well, a recent article from Quartz finds pricing is at an all-time high, and demand is the highest it’s been in about nine years. The market is hot but hasn’t kept up with demand, which has created even more interest.  

At Joffe Land Companies, we can also report business in the South is booming. This summer, we expect to close deals with some of the largest home builders in Atlanta. They’re set to purchase land many felt had little value after the recession in 2008.

Perhaps from the outside looking in, the housing market is shaky and going through a period of turmoil. But here at Joffe Land, we continue to reap the benefits of an under-supplied market and rising home values.

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