Logan Mohtashami on HousingWire’s 2025 housing market forecast

[@MaddieBr]

Happy New Year Logan and Sarah! Question: What counts as a unit of new construction? Is it anything built on a vacant lot or do backyard ADUs count?

[@LoganMohtashami]

Currently, there are 120,000 homes that are completed and ready for sale. Additionally, 264,000 homes are in various stages of construction, while 106,000 homes have not even begun the excavation process. Most of these homes are already under contract, meaning that potential buyers are waiting for them to be finished. This situation explains why, even during the housing bubble crash years, the number of completed units available for sale never reached 200,000.

[@MaddieBr]

So, I infer these stats are for new construction on vacant lots. I'm just trying to understand how the push in CA to split lots, build ADUs, infill, etc. relates to "true" inventory.

[@LoganMohtashami]

@@MaddieBr California inventory you're looking for is just Active listings, that is the only data line that counts as active inventory