I recently analyzed the dynamics in Connecticut’s housing market by reviewing the change in population and the net change in housing stock from 2020 to 2023. As can been seen below, the large increase in population and the drop off in construction during the year following the pandemic is still creating a housing shortage. Given the multifamily supply coming to market this year and next year, a net outflow of population could bring the housing market into balance. I suppose the question is: will the pandemic’s flight of homeowners out of NYC reverse itself?
