The United States is currently experiencing a shortage of housing. Inventory sits at record lows as properties get snapped up by willing buyers almost as soon as they hit the market.
Housing starts are finally returning to normalcy after a decade of underperformance that started with the residential real estate bubble of 2006. Once the bubble burst, homebuilders were stuck with excess inventory, and buyers were reluctant to invest in new construction as prices fell. While the excess inventory was absorbed, new home construction lagged as builders remained cautious.
Source Fool.com