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Examining the For-Sale Inventory Shortage May 25, 2021 Examining the For-Sale Inventory Shortage By Selma HeppHousing Affordability, Mortgage Finance Lack of availability of homes for sale has been the Achilles heel of many housing markets across the country even prior to 2020, and the COVID-19 pandemic has only exacerbated the shortfall. Since the Great Recession, the inventory of homes for sale has been on a decline and has reached its lowest recorded levels in recent months. From the 1980s to early 2000s, the annual number of homes for sale averaged 1.9 million. In 2020, the number fell below 1 million. [1]Over the same four decades, the number of households in the U.S. increased by about 44 million.

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