On one hand, we have a robust, thriving market. Mortgage rates are remaining historically low. Houses are selling well before they're finished, some before the ground has even been broken. Builders are juggling more contracts than they know what to do with and are busier than ever. Developers are positioning themselves to increase land acquisitions. By all accounts, business is booming.
On the other hand, we have an industry that is struggling to keep up. The construction industry has been plagued with huge price increases, widespread material shortages, and significant time delays that are hindering the market from reaching its full potential. Right now, the supply simply can't meet the demand.
So, what's next? The 2021 Annual Housing and Construction Forecast, presented in partnership with the Wilmington-Cape Fear Home Builders Association and the Cape Fear REALTORS®, will feature national experts Robert Dietz (NAHB) and Lawrence Yun (NAR) to address what we can expect to see in the industry in 2021. This year's forecast will be a virtual event via Zoom Webinar and will be FREE to attend for WCFHBA and CFR membership. Registration will also include a digital copy of this year's Cape Fear Area Housing Economic Climate Report and a Starbucks e-gift card (both emailed prior to the start of the webinar on March 11th).
This year's forecast will include the following guest speakers: Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy, National Association of Home Builders (NAHB)
Lawrence Yun, Chief Economist and Senior Vice President of Research, National Association of REALTORS® (NAR)