US housing market short millions of homes

A new report from Realtor.com indicates U.S. homebuyers are facing low inventory in 2020.

Nearly 10 million new households were formed 2012-19, while only 5.9 million single-family homes were built during the same time period.

“New home starts are not keeping pace with demand,” said Javier Vivas, director of economic research at Realtor.com. “Homebuilders have a mountain of opportunity, but a big hill to climb. The current inventory crisis and the need for 3.8 million new homes means a nearly insatiable appetite from potential buyers, especially in the lower end of the market.”

Read more from Connect Commercial Real Estate.