Nationwide increases in housing stock since 2020 mirror post-pandemic moving patterns, with six states in the West and South accounting for half of new units.
“The United States has added almost 5 million housing units since 2020, most heavily in the South and most of them single-family homes, making a housing shortage look conquerable in much of the nation,” reports Tim Henderson for Stateline. According to Stateline analysis of Census Bureau data, six states account for 50 percent of the increase: Texas, Florida, California, North Carolina, Georgia, and Tennessee. Last year alone produced the most housing units since 2007.
Henderson notes that the pattern mirrors post-pandemic moving patterns but points out that experts say another 2 to 2.5 million units, mostly single-family homes, are needed. The US has added 1.6 million new units annually for the past two years, according to the Census Bureau data, and that pace is expected to continue.
However, while increased stock may mean cost increases could slow or stabilize, it doesn’t necessarily mean housing prices will come down, as high interest rates continue to hurt potential homebuyers and inflation drives up the cost of building materials and labor. “The Federal National Mortgage Association, known as Fannie Mae, reported last year that the typical homebuyer paid 35% of their income in mortgage payments in October, the highest since at least 2000,” writes Henderson.
States with affected by poverty and low population growth — including Rhode Island, Illinois, West Virginia, Connecticut, Alaska and New Jersey — saw the slowest housing growth, according to Stateline analysis of Census Bureau data.
FULL STORY: Housing boom in most of the US could ease shortage, but cost is still a problem
Where 2024 Presidential Candidates Stand on 12 Issues Important to Urban Planners
Whether you’re yet undecided or have already cast your early vote, here is a roundup of the key positions of Vice President Kamala Harris and former President Donald Trump on important urban planning policies.
Amtrak Expanding Service in California’s Central Valley
Amtrak is planning a major expansion to the passenger rail lines connecting the Central Valley and the Bay Area.
Commentary: How Can We Solve America’s Affordable Housing Crisis? CDFIs are the Key
As financial institutions whose mission is to support underserved communities, community development financial institutions can be key partners to ensure public-private efforts to build affordable housing pencil out.
Denver Voters Approve Downtown Revitalization Bonds
The city wants to bring new projects and residents to the downtown core, where 13 million feet of vacant office and retail space await new tenants.
Seattle Has No Plans to Ditch Parking Requirements
An update to the city’s comprehensive plan will reduce, but not fully eliminate, parking mandates for housing developments.
Future of Public Lands Looks Litigious Under Trump
Experts say monuments and “unappropriated” federal lands will likely be the target for expanded drilling, mining, and other development under a new Trump administration.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
University of Southern California
City of Meridian
University of Calgary
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
Detroit Regional Partnership
San Joaquin LAFCo
City of South Portland