Record Low Housing Completions Expected for 2011

Business Insider reports the U.S. is on track this year for the lowest number of total housing completions since the Census Bureau started keeping records of completions. In 2005, 1,878,200 single family and multifamily dwellings were added to the nation’s housing stock, including 146,800 manufactured houses. This figure included an estimated 200,000 houses lost due to demolition, disaster, and conversion. For 2011, it is estimated the U.S. will see a net addition of 452,000 housing units added to the housing stock, including 46,000 manufactured homes. The record low number also means the excess inventory of housing units is decreasing.

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