US markets in need of more housing
by Kevin Maalizadeh · October 22, 2016
Last updated on December 12th, 2017 at 02:46 am
The above chart displays the top 10 U.S. Markets in need of markets in need of more housing. San Francisco, San Jose and San Diego are among these cities. California new housing permits including single family and multi-family homes are on the rise since 2009, but we are no where near we need to be. We are missing roughly around 65,000 new units annually.
In economic news this week, U.S. home sales surged in September after falling for two straight months as first-time home buyers stepped into the market. The National Association of Realtors said existing home sales rose by +3.2%, well above market expectations, to an annual rate of 5.47 million units.