Is California's Housing Situation Turning Around?

Population is stagnant. But housing supply is growing. Is this the beginning of a Great Correction?

1 minute read

May 14, 2024, 11:00 AM PDT

By billfulton00


Aerial view of dense housing in San Francisco Bay Area.

Jason / Adobe Stock

California’s population has begun growing again — ever so slightly. But will the housing supply ever catch up?

The cost of housing in California increased sharply during the early part of the COVID pandemic — as it did in many places. Now, even though housing growth has been sluggish, cost has leveled off. There are probably several reasons for this, not the least of which is the rapid rise in interest rates. But there may be another factor: The supply of housing, sluggish though it may be, is growing faster than the population.

To take a longer view, CP&DR looked at DOF’s estimates of change in population versus change in housing units since the 2020 Census – almost four years, during most of which California’s population declined. And the bottom line is that during that time, the supply of housing increased by 3 percent and the population declined by 1 percent.

Monday, May 6, 2024 in California Planning & Development Report

Aerial view of homes on beach in Maui, Hawaii

Hawaii Passes First Legislation Regulating Short-Term Rentals Statewide

The new law will give counties the power to limit number or short-term rentals and convert existing short-term rental units back into long-term residential housing.

May 13, 2024 - USA Today

Entrance to a drive-through car wash at night with green 'Enter' sign.

Ohio Towns Move to Ban New Car Washes

City officials in northeast Ohio are putting limits on how many car wash facilities can open in their towns.

May 16, 2024 - News 5 Cleveland

Aerial view of Oceanwide Plaza skyscrapers covered with graffiti tags.

LA’s Abandoned Towers Loom as a “$1.2 Billion Ruin of Global Capital”

Oceanwide Plaza, shuttered mid-construction after its developer filed for bankruptcy, has stood vacant on prime Los Angeles real estate since 2019.

5 hours ago - The Architect's Newspaper

Aerial view of Oceanwide Plaza skyscrapers covered with graffiti tags.

LA’s Abandoned Towers Loom as a “$1.2 Billion Ruin of Global Capital”

Oceanwide Plaza, shuttered mid-construction after its developer filed for bankruptcy, has stood vacant on prime Los Angeles real estate since 2019.

5 hours ago - The Architect's Newspaper

Close-up of back windshield of Waymo autonomous car.

NHTSA Launches Investigations Into Two More Self-Driving Automakers

The federal agency is responding to reports of crashes and erratic behavior from Waymo and Zoox vehicles.

6 hours ago - Smart Cities Dive

Texas Townhomes

Austin Reduces Minimum Lot Size

Smaller lot sizes for single-family homes can make construction more affordable and homeownership available to more households.

7 hours ago - The Texas Tribune

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.