US builders shift to more cost-conscious and space-efficient designs

The housing stock in the U.S. continues to grow faster than it did before the pandemic-induced housing frenzy, as builders race to fill a shortage of 4.5 million homes. The latest analysis from Zillow shows roughly 1 million single-family homes were completed in 2023, the second-highest annual total since before the global financial crisis. That’s about 11% more homes than…