Supply Still Low in California Despite Construction Reaching 15-Year High

California has added >123K housing units, reaching a 15-yr high.
Single-family homes made up 54% of new construction.
Also, 44% were multifamily units and 1% were mobile homes.
The state’s goal is to build 2.5M homes by 2030, revised from the original goal of 3.5M by 2025.