According to the City of Santa Monica's planning website, there are currently 813 housing units under construction, while 12 projects totaling 2,715 housing units are pending entitlement.

The Apartment List report, however, predicts that "the supply surge won’t be indefinite."

"Developers are already responding to the higher interest rate environment that we’re in now; new building permits have been falling for over a year and construction starts are following suit.

Read More: https://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2023/December-2023/12_12_2023_Multi_Family_Construction_Expected_to_Boom.html