Youngest and Oldest Buyers Challenged by Housing Shortage

According to the U.S. Census Bureau, a decades-long decline in the construction of single-family homes is driving the current U.S. housing shortage. This shortage of single-family homes has also strained the supply of multifamily housing.

Census Bureau statistics show:

  • 12.3 million households formed January 2012 to June 2021
  • Only 7 million single-family homes were constructed during that time

The category of homes impacted most by the decline in new-home construction is entry-level, single-family homes. Among home buyers hardest hit by this lack of inventory are millennials eager to buy their first home and seniors looking to downsize from a large family home to a more affordable and manageable smaller home.

Modular Solutions for New Home Buyers

The buying boom has dampened opportunities for first-time homebuyers, especially among middle-income families looking to buy a home as a more affordable alternative to rising rents. Unfortunately, this competition for homes, along with the 10-year downward trend in new home construction, combine to create inflated prices for homebuyers.

Impact Housing provides a quality, proven solution for new home construction. Our modular construction process produces new homes in half the time or less, and with less waste, than traditional site-built homes. This translates to lower housing delivery costs and shorter construction timelines, producing homes that can be rented or sold at more attainable price points

A happy senior couple moving boxes into or out of the back of their car. They are moving house, perhaps downsizing. They are looking at the camera, smiling.
Young afro couple sells their house
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