In 2024, home completions in the U.S. hit 1.6 million—the highest in nearly twenty years, driven by both single-family and multifamily construction. Despite this increase, the country still grapples with a staggering supply shortfall of 3.8 million homes, primarily affecting young households as affordability dwindles. While the South saw improvements in closing its gap, the other regions, particularly the Northeast, faced minimal progress. Total housing starts remain low, suggesting a persistent need for strategic policies and sustained efforts to address housing supply and affordability issues.
The company’s analysis predicted that housing completions in 2024 reached 1.6 million, yet a 3.8 million home shortfall remains, marking the third-largest gap since 2012.
Despite significant improvement in Southern housing completions, the broad gap of 3.8 million homes reflects an ongoing and sustained demand that far outstrips new supply.
Collection
[
|
...
]