Entirely depends on where you're at. Overall the US added nine million new housing units from 2010-2019, while adding only about 19 million people. For housing that's somewhere between keeping pace with and exceeding population expansion. Obviously not all of that supply expansion goes to family housing, however not all of it needs to either, given that's only a two to one ratio.

Location location location. A lot of that new housing is not where it's actually needed most. If you need it somewhere within commuting range of your job, but instead it's 18 hours away and several states over, it's really not doing you any good.