The national housing inventory reached 107 million units in 1993. Over the course of the past two decades, housing growth has been concentrated in the South and West. Nearly 7 of every 10 homes constructed since 1975 were located in these two regions. Twenty years ago, 32 and 18 percent, respectively, of the homes in the United States were located in the South and West. By 1993, these respective regional shares had grown to 36 and 21 percent.