Construction | LA County Home Listings Blog

Friday, September 15, 2023   /   by Fahad Karamat

LA's Apartment Boom Amidst The Housing Crisis: A Glimmer or Just a Glitch?

While the Hollywood sign might have you dreaming of stars, Greater Los Angeles is now shining in another domain: apartment completions. However, even as the City of Angels ranks seventh nationwide in new large apartment unit completions, the state's overwhelming housing crisis casts a gloomy shadow.

Apartment Supply Wave in Greater LA

According to a recent RentCafe and Yardi Matrix report, LA is poised to roll out over 14,000 apartment units in substantial constructions this year. While this might sound like a lot, a deeper look reveals that LA trails behind cities like New York, which tops the list with an astounding 33,000 new units, and Dallas, making a splash with around 23,700.

A Pandemic-Inspired Construction High

If there's one upside to the pandemic, it's the surge it prompted in the construction sector. The report highlights that the US has witnessed the introduction of 1.2 million apartments in the previous three years. 2023 seems to continue this trend, dubbed a . ...

  real estate, news, apartment building, construction

California Platinum Realty
Fahad Karamat
6303 Owensmouth Ave 10th Floor
Los Angeles, CA 91367
818-835-0848
CA DRE # 02007521
NMLS # 1597279

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