Housing supply refers to the total number of residential units available for people to live in, including houses, apartments, and condominiums. It is influenced by various factors such as construction rates, zoning laws, and market demand. When the housing supply is high, it can lead to lower prices, while a low supply often results in increased prices and competition among buyers. The balance between housing supply and demand is crucial for a healthy real estate market. When more people want to buy or rent homes than there are available units, it creates a housing shortage. This can affect affordability and accessibility for many individuals and families seeking stable living conditions.