Despite a pandemic construction boom, the shortage of available homes in the U.S. continues to grow – with the issue more prominent in some major cities compared to others, according to a new report from Zillow. An estimate reported by Zillow suggests that the U.S. was short 4.5 million homes in 2022, up from 4.3 million in 2021. Such a deficit is "the root cause" of the housing affordability crisis across America, the real estate market platform said.
Despite an increase in home construction, the shortage of available homes has still grown, which Zillow attributed to the uptick in the nation’s family count, as well as a "very sluggish construction activity in the decade preceding the pandemic." Zillow explained how the pandemic-era housing frenzy sparked a construction boom. In 2022, 1.
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