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Housing deficit held near flat in 2024 at 4.7 million homes

Zillow Research said the deficit grew by just 43,000 homes in 2024, the smallest annual increase in years, as a construction boom offset demand.

Reported · Written up by our desk · Residential

The national housing deficit totaled about 4.7 million homes in 2024, according to Zillow Research.

The outlet said the deficit stopped worsening last year, with only a small increase of 43,000 homes as construction activity rose enough to nearly stabilize the shortfall.

Zillow Research attributed the improvement in part to a construction boom that helped keep the gap nearly flat through 2024.

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