Paige Shipp, Regional Director of Metrostudy recently addressed the Dallas Real Professionals. As a land planner and landscape designer, Paige played an instrumental role in creating communities for some of DFW’s largest developers and builders for more than 16 years. Metrostudy covers 316 counties across the Unites States and captures approximately 75% of all new construction activity by taking a census of every single new home start.
Research shows that more affordable homes are being built and things look positive today compared to where we were in 2015. Vacant developed lots have played a role in the affordability crisis. Today there are about 40,000 lots that are under construction and in 2016 the number was 20,000. Paige predicts these homes may be more affordable because there is a “wonderful increase of lot deliveries at better price points.”

Over the next 24 months the mortgage rates will continue to rise and inflationary pressures due in part to the national debt are building. Also, the resale market is showing signs of an overpriced market with the majority of demands below $300,000. As affordability improves, the ability to push prices improves as well. She expresses the need to fight for affordable new homes because it will pay off for communities and the health of the real estate market in the end.