The United States added 5.5 million housing units less in the last two decades than in previous years, according to the National Association of Realtors.
- American builders added an average 1.225 million new housing units from 2001 to 2020.
- The figure is 275,000 units lower than the average 1.5 million new units from 1968 to 2000.
- The deficit is composed of 2 million single-family homes, 1.1 million units in buildings with two to four units, and 2.4 million units in buildings with at least five units.
- Home construction starts from 2010 to 2020 were 6.8 million units lower than needed to meet housing growth to offset old and destroyed units.
- Some 90% of builders said they experienced shortages in appliances and framing lumber in May.
- Rosen Consulting Group Senior Vice President said the figures indicate a large problem and reinforces the need for affordable single-family and multifamily housing.
- The report was prepared by Rosen for the NAR.