A report released by Construction Coverage, a website designed to update those in the construction industry by comparing construction software, insurance and
, a website designed to update those in the construction industry by comparing construction software, insurance and related services, highlights the U.S. cities with the biggest increase in housing inventory.
In 2024, the top three large cities are Denver, Colorado, El Paso, Texas and Dallas, Texas, and the top three states are Florida, Maine and South Dakota.However, the U.S. continues to face a housing inventory shortage.Thus, new home construction is unable to keep up with the rate at which population is growing due to immigration, urbanization and retirees preferring to age in place.
As for New York City, the housing inventory slightly decreased from 2023 levels. In the first quarter of 2023, the months’ supply was 6.5 months, while in 2024 it went down to 6.4 months.However, more than half of the homes for sale at a national level are located in Southern states despite only 38% of the population residing in these states.
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