Housing Demand Growing Nationwide

An Irvine real estate research firm said new housing demand has grown in every region of the nation for the first time in three decades.

More than one-third of those nationwide who want to buy a house can’t find one, the Meyers Group said in its fourth-quarter survey. Builders, who are scrambling to put up new homes, should expect “another fantastic year,” the report said.

The hottest markets were in California. Los Angeles, Orange County and Riverside-San Bernardino finished in the top 10 areas recording the highest demand for new homes. Demand in those areas was at least double the supply.

Statewide, home production continues to be a problem amid slow-growth or anti-growth protests. An estimated 250,000 new homes are needed annually to absorb growth, but only about 150,000 were approved last year. The shortfall has helped cause prices to rise generally.