Demand for homes will be strong next year, but homebuyers will have few options. In fact, according to a new forecast, 2020 may just see the biggest housing inventory shortage in U.S. history
In fact, according to a new forecast for 2020, next year may just see the biggest housing inventory shortage in U.S. history.
Currently, only one out of every 10 markets is seeing inventory growth. That’s down from the start of 2019, when two out of every three markets was growing. Continued strong demand for housing—particularly options at the entry-level—is only exacerbating the issue. According to a recent analysis from credit bureau TransUnion, between 8.3 and 9.2 million first-time homebuyers are expected to hit the market in the next few years.
“The construction of new homes in 2019 was largely isolated to upper-tier of housing and that is unlikely to ease conditions for first-time homebuyers,” he says.
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