According to CNBC business, the supply of exsisting home is at record lows. As a result it has put builders in the drivers seat. Apparently, potential used home sellers are reluctant to sell their home with a low interest rate creating a supply problem for homes in general.
I know our sales have not slowed down. In fact, June was one of the best months we have had all year. People appear to be tired of waiting on the sidelines for interest rates to drop. Home prices are up for us all year as well.