The reduced amount of single-family home construction over the last decade is striking when considering the U.S. population has continued to increase over time.

The National Association of Realtors has estimated that existing home sales growth has lagged while inventory declined. As of November 2019, inventory has fallen to a 3.6-month supply (a 6-month supply would be considered more representative of a balanced market).

Housing structures of 2-19 units has sharply declined from almost 25% of all new construction in the mid-1980s to just 4% in 2018.