Its much simpler for the central ohio market. We are going to take on ~750k new residents over the next 10 years. Our new builds/housing starts trend is extremely lacking the demand in the area. This is due to minimal land available, expensive. Every single trade involved in building a house has risen their prices extremely high because, there is a lack of skill labor. Without the land and a skilled workforce you cant pump out thousands of houses like we did in the 90s. Lack of supply and high demand = supply gets a premium regardless if it is really warranted.
To give some context in the 90's the largest home builder built 1200 homes a year here. As a whole there was 12,000+ starts. Last year that builder built 450, this year 600.
I recommend Ted Jones his twitter feed is great. I go to his meeting every year about ohio's economic forecast, he is very real and insightful.
https://blog.stewart.com/stewart/author/tjones/
Twitter: @drtcj