Experts: New housing construction shortage expected to last until 2022
HousingWire September 10, 2019 Julia Falcon
The rate at which new housing in being built in this country has not recovered since the housing crisis, and it looks like that trend may be sticking around for a while.
New housing start rates are expected to remain below historical averages through 2022, or later, according to new research from Zillow.
The average seasonally adjusted annual rate of new single-family housing starts since 1959 was more than one million, but since 2007, the rate has not reached that level.
Since the Great Recession, home values have recovered, and in some cases, surpasses pre-recession peaks, Zillow said, but construction has not kept up...click here to read more.