As of August 2021, the national and regional indices were all above 100, meaning that a family with the median income had more than the income required to afford a median-priced home.
Rising inventory and moderating price conditions are bringing buyers back to the market, according to Lawrence Yun, chief economist, National Association of Realtors.
The trends reflect a need for dedicated activity spaces within the home, a desire to bring the outdoors in, a requirement to create flexible interior spaces and a passion for luxurious colors and materials.
The demand to build is there, but the product supply is not, and flooring manufacturers across categories are feeling the burn, as they find ways to work around disruptions in the supply chain.