Housing prices increased and inventories reached low levels in the first two years after the pandemic began, according to a recent Economic Letter from the Federal Reserve Bank of San Francisco. The letter, titled “Pandemic-Era Demand Squeezed Housing Inventories,” attributes this drop in housing inventories primarily to a rise in demand rather than a decrease in supply.
John Mondragon, research advisor at the bank and one of the authors of the report, discusses these changes in a video accompanying the publication. He is joined on the project by Adam Shapiro, vice president in the Economic Research Department, and Valeska Fresquet Kohan, research associate.
The authors emphasize that their findings reflect their own views and not necessarily those of management at the Federal Reserve Bank of San Francisco or its Board of Governors.
More information about John Mondragon and Adam Shapiro is available through their respective profiles on the Federal Reserve Bank of San Francisco’s website.
