America's housing gap finally holds still after years of growth

The U.S. housing deficit stabilized in 2024, rising by only 43,000 units to 4.74 million, as construction surged and 1.4 million new units were added, including a record in multifamily buildings. Despite this, available homes declined by over 617,000 since 2019, and over 8 million families are doubling up. Affordability improved slightly, with 35% of listings accessible to median-income households. Regulatory reforms are crucial to closing the housing gap.