National Realtors economist: ‘There will be a housing shortage …

SCHNECKSVILLE — A dwindling supply of available homes has been a constant thorn in the side of the Lehigh Valley’s housing market throughout 2016.

And, according to one of the nation’s leading housing economists, local real estate professionals shouldn’t expect that to change much next year.

“Given the home building activity so far — and it takes some time to actually build a home — what is in the pipeline is insufficient, so there will be a housing shortage going in to 2017,” said Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors. “Right now, as we enter the winter months, things will appear soft but this is normal seasonal activity.

“But come spring time, I think you will have a very tight inventory condition.”