US existing-home supply was 3.7 months in early 2026, still below a balanced 5 to 6 months.
Virginia had 2.17 months of supply in early 2026, up from 2.05 months yearly.
Virginia issued 33,223 permits in 2025, ↓836 from the prior year and the lowest since 2020.
Complex projects can take 6 to 12 months or longer, with multi-agency reviews and backlogs extending timelines.
Permit delays can raise builder costs and lead to fewer completions months later, worsening shortages and affordability.