America’s housing shortage explained in one chart

Posted on by Randolph Taylor
 

Data: Hines analysis of Census Bureau and Moody’s data; Note: Population demand is a theoretical housing demand metric based on long-term household formation and homeownership rates by age cohort; Chart: Axios Visuals

America’s housing shortage explained in one chart

The United States faces a significant housing shortage, with a deficit of approximately 3.2 million homes. This shortfall, which represents about 2.5% of the total U.S. housing inventory as of 2022, is a major contributing factor to the sustained high prices in the housing market. This chart underscores a critical issue: the supply of homes is not keeping pace with the growing number of households, impacting affordability and availability in the housing market.

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