AUSTIN — Even if population growth in metro Denver came to a screeching halt, the region would still need to add tens of thousands of new homes and apartments to cover a deficit built up after a decade of under construction, according to an analysis from Zillow.
The country has seen the strongest pace of new home construction since 2007, the final year of the housing boom. Even with that, Zillow estimates that the country’s housing deficit rose from 4.3 million units in 2021 to 4.5 million in 2022, the most recent year available for analysis.
“We desperately need to build more housing,” said Orphe Divounguy, a senior economist at Zillow, during an interview at the National Association of Real Estate Editors in Austin on Tuesday.