Demand for U.S. housing is quickly outpacing the supply of homes, according to United States Census Data. In the 2019 first quarter, the vacancy rate for single-family, owner-occupied homes dropped to 1.2%, the lowest point since 1995. Among multi-family rentals, the vacancy rate rose to 8.3% in the first quarter, but that still remains near historic lows. The problem lies in a lack of construction. For all of 2018, 1.5 million new households were added to the U.S. but only 1.2 million new housing units were built.