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 demand exceeds supply, it can create challenges for potential homeowners and renters, making it difficult to find affordable options. Local governments and developers play key roles in managing and increasing housing supply to meet community needs.