Housing Inventory Hits Critical Shortage As High Demand, Low Supply, and Building Costs Collide

• Housing market facing major inventory shortage of 3.5-5.5 million homes nationally • Low mortgage rates have discouraged existing homeowners from selling and limited supply • High inflation and materials/labor costs made building new homes more expensive • Restrictive zoning laws constrain new construction and exacerbate undersupply
• Cutting interest rates alone won't fix deeper structural problems in the housing market