How many new dwellings do we need to build to get the housing market stable, where supply and demand reach an equilibrium? Using data from the US Census Bureau’s 2024 American Community Survey and housing market measures from the economic analysis firm Moody’s, San Diego has a current shortfall of about 25,200 housing units. This means that the city will reach a balanced housing market in 5 years at this building pace. Gloria often cites the need for 108,000 additional housing units to be built. We need consistent, deliberate, cost-effective development across all segments of the housing market.