Shortage of 3.8 million homes between 2012 and 2019

Posted on February 6, 2020

Only 5.9 million single-family homes were constructed in the country meanwhile 9.8 million new households were required. Buyers continue to struggle to find a new home due to extremely low inventory particularly in the lower end first home buyer end of the market. However low interest rates and a healthy labor market combined with a need for additional inventory is setting the stage for further home building gains in 2020 Builder confidence in the market for newly-built single-family homes edged one point lower to 75 in January marking the highest sentiment levels since July of 1999.