Report: U.S. Housing Market Won’t Be Balanced Until At Least 2035

Among the many reasons why purchasing a Merrick Manor condominium is your best bet now and for the foreseeable future, a new study shows that the U.S. will need 4.3 million residential units constructed by 2035 to become a healthy and balanced market. That means the near-term pricing reductions some would-be buyers are hoping for will not happen, given the extreme lack of available supply to meet demand.

The study, commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA), incorporates the current supply shortage of about 600,000 units. “Put simply, we do not have enough housing,” NAA president and CEO Bob Pinnegar said.

This is especially true in Miami-Dade County, which ranks as the nation’s No. 1 most competitive rental market in 2022, according to a study. The countywide occupancy rate is 97.6%, and the average vacant apartment is being leased in just 27 days.

Not surprisingly, Merrick Manor’s flexible bulk condominium packages for rented condos are generating tremendous interest.

Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.”

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.

For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.