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America has a housing shortage ... and it's pushing up home prices. [INFOGRAPHIC]

We Need More Homes!

Total nationwide inventory fell 1.8% YoY in August [1]

Existing-home supply dropped 1.6% YoY in July [2]

What's Driving Demand?

“These positive demand drivers, which are occurring against a backdrop of persistent shortages in housing stock, are the major drivers for higher home prices, which will likely continue to rise for the foreseeable future.”

— Frank Martell, President and CEO of CoreLogic

Millennials Rush to Refinance to Take Advantage of Low Rates[7]

Millennial refis jumped 9% from June to July

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[1]® August 2019 Monthly Housing Trends Report.

[2] National Association of Realtors® (NAR), Existing Home Sales, July 2019.

[3] CoreLogic, a data and analytics company, Home Price Insights report, July 2019.

[4] Freddie Mac, Primary Mortgage Market Survey®, week ending September 5, 2019.

[5] Bureau of Labor Statistics, U.S. Dept. of Labor, Employment Situation Summary, August 2019.

[6] Freddie Mac, Economic & Housing Research Insight, February 2019.

[7] Ellie Mae® Millennial Tracker, July 2019..

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