Design To Build

There were roughly 8 million individuals or families who lived in another person’s home in 2021 and just 3.7 million homes for rent or sale, Zillow revealed Friday, leaving a deficit of 4.3 million homes.

“The U.S. housing market is like a high-stakes version of the game musical chairs,” Orphe Divounguy, senior economist at Zillow, said in a news release.

“There are simply not enough homes for millions of people. Unless we address the shortage of smaller, more-affordable, starter-type homes, we risk leaving families without a seat — and it will only get worse over time,” he added.

The US is short more than 4 million homes: analysis "The U.S. housing market is like a high-stakes version of the game musical chairs."

"That may present good news for potential buyers who are forced to defer their dreams of homeownership, as a robust pipeline of rentals may provide an opportunity to wait out a tough housing market.

But does it take up valuable space in a housing market that is already suffering from a dearth of homes for sale?"

Investors are building a record number of homes — solely to rent out. Will this hurt aspiring homeowners? The construction of single-family homes built by investors solely for the rental market is forging full steam ahead.

"A nationwide lack of inventory has become a major headline in the housing market with homebuyers now facing a triple whammy:

1. Higher mortgage rates
2. Elevated asking prices
3. Few options from which to choose"

Homes for sale are in short supply. Here's where inventory has dropped the most. Homebuyers face triple whammy of higher mortgage rates, elevated asking prices and few options from which to choose.