Lagging Construction Creates Issues For Buyers

If you compare the number of people who want to buy homes to the number of homes available to buy, you can get a pretty good sense of where the housing market is headed. For example, a new analysis from Freddie Mac shows that there were 90 million Americans between the ages of 15 and 34 in 2016. That’s 6 million more than the number of people between ages 35 and 54. That means, there are a lot of younger Americans who are at, or are quickly approaching, the age of the typical first-time home buyer. This points to increasing demand for homes in the near future. But, at the same time, there have been fewer new homes built in recent years. In fact, Sam Khater, Freddie Mac’s chief economist, says construction levels have rarely been lower. If it stays that way, Khater says buyers should expect homeownership to get more expensive. “From 1968 to 2008, a span of 40 years, there was only one year in which fewer new housing units were built than in 2017 – and this despite rising demand in a growing economy,” Khater said. “We estimate that over the next decade, young adults will add about 20 million households – and those households will need a place to live. Until construction ramps up, housing costs will likely continue rising above income, constricting household formation and preventing homeownership for millions of potential households.” More here.

About the Author

eXp Realty, the largest residential real estate brokerage by geography in North America and a subsidiary of eXp World Holdings (NASDAQ: EXPI).


Bobby is a U. S. Marine Corps Veteran and Florida native with over 17 years of combined, award-winning experience in Real Estate and Mortgage Lending in Central Florida.  An eXp ICON AGENT and Certified Mentor.  Formerly with RE/MAX where he was recognized as a Hall of Fame Member and a consistent Platinum Club Award Winner.  Locally, a multi-year Gold-Level Award Top Producer within the Orlando Regional Realtors Association (ORRA). His consistent productivity has earned him universal recognition, named as a Top agent in numerous publications, year after year including being voted a Best of Southwest Orlando Realtor 6 years in a row!


Bobby holds a Florida Real Estate Broker’s License with designations as a Graduate, REALTOR Institute (GRI); Accredited Buyer Representative (ABR); Certified Short Sale Professional (CSP); a Florida Military Specialist (FMS) and one of the few Real Estate Collaboration Specialists – Divorce (RCS-D) in Central Florida.  These advanced designations denote expertise in financial, market, and investment analysis, in addition to negotiation.   As such, he is considered an ‘expert’ in his field with experience in court testimony.


Bobby is also a dedicated member of his community and has served on numerous local Boards of Directors. He is a youth sports coach and a Partner in Education with Orange County Schools. Thus, Bobby was voted a 2015 ORRA Good Neighbor Award recipient for his volunteerism and charitable contributions by his peers.


Bobby and his beautiful wife Halle have three very active children; Isabella, ‘Little’ Bobby and Alex. They stay busy as a family with sports, extra-curricular clubs and travel. However, they also give back as a family and donate to local rescues as well as providing their home to foster animals whenever possible.


One of Bobby’s greatest attributes is that time and again he has proven himself to be a selfless professional, treating each of his clients as if their property was the most important. He continues to work with his clients personally and does not differentiate between a $100K condo or a $1M house on a lake…anywhere in Central Florida, he gives each one the equal time, attention and respect that they deserve, as praised through the countless reviews written about him by former Buyers & Sellers!


Bobby Baldor has demonstrated the extensive experience and proven expertise in our local market to help you and your family achieve your real estate goals. But more importantly, he is a caring member of our community. Bobby’s personal slogan is ‘Your Real Estate Hero’ …and he works hard to prove it.