New Home Supply Can’t Keep Up With Demand

As supply chain issues and labor shortages continue to impact the housing market, builders have not been able to make progress toward closing the gap in new home demand. A new report released this week by Realtor.com found that the gap between single-family home construction and household formations grew from 3.84 million homes at the beginning of 2019 to 5.8 million homes at the end of 2021.