From Home Furnishing Business
Fast Fact: Housing Inventory Shortage, West Coast Hit the Hardest
Housing inventory shortages and rising home prices are being felt across the country – in states with the highest ratio of homes for sale and big cities with already tight inventory, according to data from the U.S. Census Bureau and Zillow Inventory Data.
No state has maintained a ratio of 2.0 homes for sale per 100 households through June of 2018. Vermont was the highest at 1.6 – down from 2.4 in 2015.
The top three largest markets with the tightest homes for sale inventories are located in the West – San Francisco, Seattle, and Los Angeles. Seattle leads the way with inventory plummeting 76.7 percent to a ratio of 0.34 homes for sale per 100 households in the past seven years.
For an in-depth look at the data, click here.