Why the U.S. is facing a housing shortage

The U.S. has a housing shortage. With city dwellers moving to the suburbs and potential sellers unwilling to show their homes during the Covid pandemic, in April there were only 1.16 million U.S. homes for sale, down 20.5% from a year earlier. That lack of inventory has helped push prices higher. Home prices surged in March, up 13.2% from the previous year, according to the S&P CoreLogic Case-Shiller National Home Price Index. Watch the video to find out why is the housing supply so meager.