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2022 - Harvard University - State of Nation's Housing

Trends and policy

The state of the nation’s housing

Source: Joint Center for Housing Studies

Report date: June 2022

The Joint Center for Housing Studies at Harvard University tracks housing costs and other trends in The State of the Nation's Housing 2022. The report looks at the housing and rental markets and challenges for various sectors of the housing industry.

Highlights

Home price appreciation nationwide hit 20.6% in March 2022, the largest jump in 30 years of record keeping. The previous high was 20% in August 2021.
Rents rose from 0.8% in December 2020 to 16.2% in December 2021, making it more difficult for would-be buyers to save for a down payment.
Single-family housing starts hit 1.1 million in 2021, exceeding the million-unit mark for the first time in 13 years after trailing household growth for almost a decade.
Due to global supply chain disruptions, more than a third of home builders experienced shortages of windows, home doors and garage doors, pushing average construction time in 2021 to a 12-year high of 7.2 months.
Since the pandemic began, the investor share of homes sold has risen rapidly — averaging 28% per month in the first quarter of 22, up from 16% in 2017-2019.