4Q17 Excerpt: Housing Shortage Continues

Excerpt from the 4Q17 Witten Advisory: Although households are becoming more likely to buy, the orange slices in the above chart show that for-sale inventory is increasingly scarce. The U.S. now has nearly 200,000 fewer vacant single-family owner units than normal. In addition, this dearth of for-sale product is growing quarter by quarter. Single-family starts…