On Tuesday, the National Association of Home Builders (NHAB) released a survey showing that, despite the fact that homes in the United States have become more affordable over the past few years, demand for those homes remains relatively high.
While the number of homes built by Americans has increased significantly over the last several years, the NHAB found that the number building them has remained stagnant.
According to the NHTSA, the number constructed for sale during the third quarter of 2016 was 3.5 million, a rate that is lower than the 5.5-million building for sale in the same quarter in 2015.
However, the shortage of homes for sale has continued to pose a challenge for many homeowners, with NHABS data showing that nearly 30 percent of Americans are still waiting for a sale.
In a recent NHA report, NHTS found that nearly half of households surveyed in 2015 were still waiting on a sale, with the average waiting time for a house to be sold in the country currently at five years.
The report also noted that some homeowners are more likely to be outbid by a builder than by a prospective buyer.
The NHA data shows that about a quarter of American households, or 41 percent, have experienced a homebuyer who has been outbid for their home.
The remaining 25 percent, or 28 percent, of households have experienced an offer for a home.
NHABS also found that in 2015, fewer than a third of American homes were on the market, with fewer than 8 percent being sold in 2015 as compared to nearly 21 percent in 2014.