Long-Term New Construction Needs

In previous posts, I have highlighted the following long-term housing construction needs essential to keep pace with the population growth and family formations.

I am reposting this information on new home construction and resales to set the stage for my blog posts this week.

DEMAND
• 3 million more people each year
• 1.3. to 1.5 million household formation per year
• 1.4 million per year was the 30-year average

SUPPLY
• 300,000 home demolitions per year
• Need to build 1.6 to 1.8 million per year to keep up with population, housing formations and replace demolitions each year.



Resales
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Resales