Household formations outpaced single-family home construction by 7.2 million homes in 2023; including multi-family home construction reduces the gap to 2.5 million homes SANTA CLARA, Calif., Feb. 27, 2024 /PRNewswire/ -- While the number of homes for sale has been recovering from pandemic-era lows thanks to a surge of new construction, a new Realtor.com® analysis found that the market is still missing up to 7.2 million homes, the result of more than a decade of underbuilding relative to population growth. " ...