The US housing market is carrying a growing backlog of potential homebuyers, with nearly two million households that economists say would normally have formed but did not in 2025. The delayed household formation reflects the growing difficulty younger Americans face entering the housing market and highlights the scale of housing demand that has yet to materialise. According to a recent report by Realtor.com, the US housing supply gap widened to 4.03 million homes last year. While builders started 1.36 million housing units in 2025, the creation of around 1.4 million new households meant construction activity ...
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