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Epic Housing Shortage Being Reported

Epic Housing Shortage Being Reported

The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.

The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.

Regarding Existing Home Inventory:

“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”

Regarding New Home Inventory:

“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”

Bottom Line

The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!


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1 reply
  1. Nipper Larson
    Nipper Larson says:

    I’m very concern about the affordability issue in real estate in Southern California. Given our free enterprise pledge and the supply and demand correlation price of property are still going up. Jobs and salaries aren’t close to qualifying perspective home buyers. This will force the younger generation East. They will either find new jobs close to their new home or they will commute. One solution would might to build low cost housing, stacked much like apartments with certain purchase guidelines. for example no investors. The last time we had run away prices was 2007. The correction was blamed on stated income loans. Where is the correction now?

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