Tom York on Business: Home Builders Take Out Record Number of Permits

A home under construction in California. Photo via Wikimedia Commons

The U.S. has officially entered a house-permitting boom, with home builder confidence near all-time highs, according to a just released analysis from web-based housing broker Zillow.

But there is a long way to go before builders catch up with the lack of new homes for the market.

The new Zillow analysis outlines how much catch-up builders have to do to fill a 1.35 million new-home construction gap caused by a decade of underbuilding. 

The analysis found San Diego suffers from a shortfall of 64,000 homes over the past 10 years, a reason desperate buyers here have pushed the cost of a home here to more than $814,000.

The Zillow study also found:

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