BiggerPockets Daily America's Housing Shortage Continues to Get Worse According to New Report
5 snips
Jul 10, 2025 The housing shortage in America has reached a staggering 4.7 million homes, creating a unique challenge for buyers. As demand rises, home prices are under pressure, leading to concerns for millennials and Gen Z looking to buy. The podcast dives into regional disparities, highlighting California as one of the most affected areas. Additionally, it discusses mortgage rates and market trends, providing insights for investors and sellers navigating this complex landscape.
AI Snips
Chapters
Transcript
Episode notes
Widening US Housing Shortage
- America's housing shortage has worsened, with a deficit of nearly 4.7 million homes as demand outpaces supply.
- The shortage particularly affects high-price areas like California and shows mixed regional trends in pricing and sales.
Mortgage Rate Dip Spurs Buyer Interest
- Lower mortgage rates to 6.6% have sparked increased homebuyer interest evidenced by rising applications and home touring.
- Despite high prices, the market shows early signs of shifting slightly towards buyers with homes sitting longer and fewer selling above asking.
Regional Housing Market Divergence
- Housing market trends vary widely by city with Midwestern markets like Detroit and Cleveland seeing price gains.
- Expensive markets like Oakland, West Palm Beach, and Austin are cooling with falling prices and sales activity slowing overall.