Looking at the new homes built in Silicon Valley by the five largest builders in 2020 shows: 316 townhouses built, 230 condos built, and 148 single-family houses built.
Townhouse construction surpasses both single-family and condo construction. If smaller homes were wanted, condo construction might surpass townhouses, but most home buyers want 3+ bedrooms. With local cities having height restrictions, townhouses can be built to the same density as condos.
With so few new homes being built, Silicon Valley real estate market trends are likely to continue showing homes prices climbing faster than incomes.