As someone deeply familiar with the Baltimore, Baltimore County, Harford County, Anne Arundel, and Howard real estate markets, I’m closely watching national trends in new home construction. Across the U.S., permits for new builds are now 19.4% below pre-pandemic levels and have been declining for 44 consecutive months. High construction costs, mortgage rates, and affordability challenges are making it harder for builders to keep pace, all while there’s a 4.7 million housing unit deficit. These broader patterns are shaping local opportunities and challenges, and understanding them is key to navigating our market with confidence.
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