For a city of 300K give or take, those numbers are low. Nothing I have added up, but most years are likely not even enough for replacement for the number of demolitions, major structure fires or plain old unplanned house collapses we have every year. Lots of other things going on for sure (new public housing, rehabs), but most housing markets are driven in large part by private sector new construction which will be reflected in these numbers. Just something to keep in mind before over-interpreting any one or more examples in front of us.
Anyway... I'll get into the reason I'm looking at that later in the week.