Not Enough New Construction?
Housing market falling short by nearly 4 million homes as demand grows
The 5.9 million single family homes built between 2012 and 2019 do not offset the 9.8 million new households formed during that time, according to an analysis by realtor.com
Even with an above average pace of construction, it would take builders between four and five years to get back to a balanced market.
"Simply put, new home starts are not keeping pace with demand. Homebuilders have a mountain of opporotunity, but a big hill to climb," said Javier Vivas, director of economic research at realtor.com