Tag Archives: Distressed property overhang dampens homebuilding in Sun Belt

New homebuilding is on the upswing in some markets, but the Sun Belt and the Midwest’s Rust Belt continue to struggle with distressed inventories delaying home starts, real estate analysts said. New home activity has “been ticking up steadily since spring of last year,” said David Crowe, chief economist for the National Association of Homebuilders. But he noted there are places where an overhang of distressed housing continues to weigh down demand for newly constructed single-family homes. “The inventory of new homes on a national basis is at a historic […]