The U.S. has a deficit of more than 5 million homes, as builders have been unable to keep up with demand over the past decade.
About 12.3 million households were formed in the U.S. from January 2012 to June 2021, but only 7 million new single-family homes were built during that time. The number of U.S. homes for sale is near a record low, with a widening gap between supply and demand.
A severe labor shortage and supply chain disruptions that pushed up materials prices are suppressing new housing starts. Land costs have risen as well, and demand has been fueled by people seeking larger dwellings during the pandemic.
Household formations have been outpacing new construction long before COVID, though.
Related Stories
Codes and Standards | Apr 12, 2015
California imposes stringent new water standards
California is the first state to adopt standards that are more efficient than those set by EPA's WaterSense program.
Codes and Standards | Apr 12, 2015
Virginia surpasses Florida for strictest hurricane building codes
Virginia has edged out Florida as the state with the most stringent hurricane building codes, according to the Institute for Business and Home Safety’s “2015 Rating the States” report.
Codes and Standards | Apr 6, 2015
Industry groups petition for change order reform on federal projects
Nine design and construction associations ask for assurance that funds available for additional work.
Codes and Standards | Apr 6, 2015
DOE releases Better Buildings Workforce Guidelines
The guidelines are aimed at strengthening and streamlining commercial building workforce training and certification programs for workers in energy auditing, building commissioning, building operations, and energy management.
Green | Apr 3, 2015
Georgia may ban use of LEED on state buildings
Georgia's state legislature is considering a measure to require all state buildings to only use green building standards that permit the use of Georgia's lumber.
Codes and Standards | Mar 29, 2015
Elevator shafts a major source of heat loss in New York City
A typical New York apartment building loses thousands of dollars worth of energy every year from leaky elevator shafts that vent warm air at the top of the building and draw in cold air at the bottom, according to a new Urban Green Council report.
Green | Mar 22, 2015
6 myths holding back green building
Sustainable design has proven benefits, so why isn’t it more widely adopted?
Multifamily Housing | Mar 16, 2015
New Jersey Supreme Court puts control of affordable housing agency in the courts
The court said the state’s affordable housing agency had failed to do its job, and effectively transferred the agency's regulatory authority to lower courts.
Codes and Standards | Mar 16, 2015
San Jose adopts bird-friendly building standard
The standard includes avoiding large chunks of transparent or reflective glass and adding fritting.
Codes and Standards | Mar 12, 2015
Energy Trust of Oregon offers financial incentives for net-zero buildings
The organization is offering technical assistance along with financial benefits.
