VENTURA, Calif. - With 3.8 million homes short of meeting housing needs, double the number from 2012, the nation is in an extreme state of housing underproduction, according to nonprofit research group Up For Growth.
According to a study released by the organization last week, the U.S. homes deficit more than doubled between 2012 and 2019 from 1.65 million to 3.8 million.
More than 800 cities and towns were analyzed, according to the company.
The Oxnard-Thousand Oaks-Ventura metro area ranked first on the list as experiencing the worst housing shortage in the entire country, clocking in more than 31,000 units short.
California led the housing gap with a shortage of 980,000 homes, followed by Texas with 322,000 homes, Florida with 289,000 homes and New York with 234,000 homes.
The median listing price advanced by 15.9% over last year, continuing an upward trend at a double-digit yearly pace for a 30th consecutive week. However, listing price growth is on a downward trend, moving below the pace seen in late May and early June.
Realtor.com expects to see home price growth continue ease in the coming weeks and slow in the second half of 2022.
FOX Business contributed to this report.