There were just 12,785 second-hand houses for sale across the country last month, new research from estate agents Sherry FitzGerald has revealed.
That represents a drop of 7% on the same month a year ago and is 29% less than the summer of 2020, at the height of the pandemic.
The total number of houses for sale was just 0.6% of the entire private housing stock of the country.
However, the number of homes for sale is higher than it was at the start of the year, when just 11,050 were available on the market.
The figures are compiled from across the entire market by Sherry FitzGerald and include homes being sold by other estate agents and from other sources.
The company has warned that the shortage is continuing to create challenges around affordability.
"The shortage of housing in the lower price categories is particularly alarming," said Marian Finnegan, Managing Director of Sherry FitzGerald.
"In the sub-€200,000 range, the decline has been the most pronounced, with only 2,370 properties currently available nationwide, a staggering 63% drop since 2020."
"Similarly, the availability of properties in the €200,000 to €350,000 price range has decreased by 38%. This disproportionally affects individuals with single or lower incomes."
The issue with supply is nationwide, Sherry FitzGerald said, with the available stock falling 41% in Ulster since 2020, 35% in Connacht, 33% in Munster and 23% in Leinster.
The estate agency added that rural areas in particular have been affected more severely than urban ones.
Kerry has seen a 48% decline in available housing stock, followed by Donegal at 46% and Longford at 44%.
"The severe shortage of housing stock in rural Ireland is not a new issue," said Ms Finnegan.
"To rejuvenate these areas, it is crucial to not only increase housing production but also ensure that stock is delivered across the country, particularly in areas that are hardest hit."
But the capital is also experiencing significant issues with supply too, the research showed.
Just 3,300 second hand housing units were for sale in Dublin last month, down 10% on 2020, and representing just 0.6% of the city's private housing stock.
