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Recap of previous information - supply <br />Supply 18,000 new housing units per year <br />2023: Goal not met <br />2021-2030: On track <br />Number of units built in the seven -county Twin Cities area <br />5,00 <br />2011 2013 2015 2017 2019 2021 2023 <br />■ Total units built ■ Units required to meet goal - - Goal <br />Source: Metropolitan Council. <br />2021-2030 <br />v Why this metric matters <br />Producing more homes is the single most effective way to <br />ensure long-term housing affordability. <br />v How this goal was set <br />This goal equates to about 18,000 new units a year. It <br />represents the amount of housing needed to keep pace with <br />household growth (about 12,500 new housing units/year), <br />account for lost housing units, erase the deficit of production <br />left by the Great Recession (about 15,000 units), and provide <br />enough cushion in housing supply to slow the rise in housing <br />prices. <br />v Context <br />While the region has enjoyed strong home production in the <br />Last few years, the low vacancy rate and rising housing prices <br />tell us that there is continued need for new housing production. <br />—AIQEN HILLS <br />