By Marty Green (February 1, 2022, 5:48 PM EST) — For several years, the U.S. residential real estate market has been characterized by a shortage of new single-family homes, the result of a long period of underconstruction following the Great Recession, compounded by the global COVID-19 pandemic and resulting supply chain issues.
This shortage will continue through 2022. Although builders have added substantial inventory in recent years, it will take more than a year – possibly two or three – to make up for what the National Association of Realtors estimates is an under- supply of between 5.5 million and 6.8 million single-family homes needed to meet existing demand….
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