The reduced amount of single-family home construction over the last decade is striking when considering the U.S. population has continued to increase over time.

Housing structures of 2-19 units has sharply declined from almost 25% of all new construction in the mid-1980s to just 4% in 2018.

The National Association of Realtors has estimated that existing home sales growth has lagged while inventory declined. As of November 2019, inventory has fallen to a 3.6-month supply (a 6-month supply would be considered more representative of a balanced market).