The Problem: In June 2023, the news website Stacker ranked the top 50 Metro areas based on the average length of listing on the markets, based on data from the real estate website Redfin. York County ranked first in the nation with an average listing of just five days. Nationally, for the same month, the average number of days on the market was 29. Headlines such as these confirmed anecdotal evidence that York County Economic Alliance (YCEA) was hearing from employers. York County’s existing housing stock is unable to meet present demand and the situation is stymieing efforts to recruit and retain York County’s workforce.
The Coalition: To address the problem, YCEA has convened a group of stakeholders including developers, public housing service providers, municipal and legislative officials, and representatives from trade groups in the construction and real estate industries to guide the York County Housing Needs and Conditions Assessment (the “study”).
The Process & Outcome: Phase 1 of the study (the report for which can be found at YorkCountyEAP.org) was completed earlier this summer and gathered data regarding the scope of the housing shortage. York County’s population grew by five percent from 2010 to 2020 and the number of households outpaced growth in the number of housing units over the 10-year period. Over the same period, new housing construction slowed dramatically compared to the period from 2000 to 2010. Before the Great Recession, the number of new construction housing permits issued each year averaged well above 2,000, peaking in 2005 with 3,064 housing permits issued that year. Since then, the number of new construction permits has not recovered. Until as recently as 2019, fewer than 1,000 new construction housing permits were being issued each year. This imbalance of supply and demand has caused prices to increase dramatically. Median home sale prices rose from $150,000 in 2010 to $245,000 in 2020 and the median home sale price is currently $275,000.
In early 2024, YCEA conducted individual meetings with the stakeholders that formed the steering committee for the first phase of the study and reconvened the larger group for additional conversations. These meetings resulted in the development of a six-item Housing Action Agenda, that represents tangible activities that YCEA and partners can take to positively impact the housing market. In parallel to these efforts, several of the stakeholder organizations formed a Steering Committee to organize the York County Stable Housing Collaborative. This Collaborative held its first meeting in April 2024 to work comprehensively to identify and address the root causes of housing insecurity in our community.
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