California’s Housing Shortage by the Numbers

California is in the midst of a housing crisis of historic proportions. The shortage is driven by local policies that limit the supply of housing. In recent years, the Legislature has passed significant reforms to housing law to curtail these policies. These laws support the production and availability of housing affordable to families of all income levels.

How long will the housing shortage that began well before the pandemic stick around?

Some experts like Taylor Morrison’s CEO Shery Palmer said to CNBC that, “it’s going to be very difficult for us to make up the shortage. This deficit we’ve been seeing has been building up for more than a decade now. The pandemic created a unique market fueled by people who saw their lives differently and many placed an emphasis on family, friends, and neighborhoods when considering what was truly important to them. This resulted in a real estate boom and buying frenzy that appears to have tempered off some, but is still fairly active in many areas within the State and across the country.

The Housing Shortage: National Association of Realtors Magazine

Here’s California’s Housing Shortage by the numbers.