Here's what you need to know.
Inflation has hit the house market harder than expected with many individuals not buying houses or even building houses. This market has heavily relied on materials being in stock for houses.
Many materials have rose in price which has heavily effected the market for homes and construction. Construction for homes is at an all time low due to materials being way overpriced. Many individuals are finding it not the right time to buy or build homes.
Many individuals are holding off on their purchase due to inflation and the cost for materials.