The latest data shows single-family home supply surging to 3.8 months in February—the highest for that month in 9 years—while demand remains frozen solid, with sales barely ticking up month-to-month but still down year-over-year. Condo sales hit record lows, and median prices are nearly flat despite past massive run-ups.

Folks, this proves what we’ve been saying all along in Our Neighborhood voices: simply building more housing won’t magically bring down costs. When affordability is crushed by high rates, locked-in low-rate mortgages, and lingering effects of the price explosion, extra supply just sits there unsold. State-level mandates forcing dense, top-down development ignore local realities and won’t fix this deepfreeze—they’ll only disrupt communities without delivering true relief.

We need planning and zoning to stay in local hands, where neighbors know best what works for their areas. Let’s keep fighting for that statewide initiative to protect our neighborhoods.