As someone who’s worked with home buyers and sellers in Santa Monica for years, I always keep an eye on national housing trends that may affect our local market. Right now, new home construction across the U.S. is slowing down—permits are 19.4% below pre-pandemic levels, and we’ve seen declines for the past 44 months. High building costs, mortgage rates, and affordability challenges are making it tough for builders to keep up, contributing to a 4.7 million housing unit deficit. Staying informed on these shifts helps me better support your needs and answer questions about how broader trends might shape your real estate decisions.
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