In April 2025, approximately ******* home construction projects started in the United States. The lowest point for housing starts over the past decade was in 2009, just after the 2007-2008 global financial crisis. Since 2010, the number of housing units started has been mostly increasing despite seasonal fluctuations. Statista also has a dedicated topic page on the U.S. housing market as a starting point for additional investigation on this topic. The impact of the global recession The same trend can be seen in home sales over the past two decades. The volume of U.S. home sales began to drop in 2005 and continued until 2010, after which home sales began to increase again. This dip in sales between 2005 and 2010 suggests that supply was outstripping demand, which led to decreased activity in the residential construction sector. Impact of recession on home buyers The financial crisis led to increased unemployment and pay cuts in most sectors, which meant that potential home buyers had less money to spend. The median income of home buyers in the U.S. fluctuated alongside the home sales and starts over the past decade.

Sub-areas of the Housing projects (flat). The sub-areas contain data about, among other things, housing type, completion year, price range, project phase, and the number of homes per year per sub-area.

Sub-areas can be related to the housing project areas within Housing projects (flat). To be able to relate a sub-area to the corresponding surface within Housing projects (flat)the attribute PROJECT NUMBER used as unique key.

This dataset contains multifamily affordable and market-rate housing sites (typically 5+ units) in the City of Detroit that have been built or rehabbed since 2015, or are currently under construction. Most sites are rental housing, though some are for sale. The data are collected from developers, other government departments and agencies, and proprietary data sources in order to track new multifamily and affordable housing construction and rehabilitation occurring in throughout the city, in service of the City's multifamily affordable housing goals. Data are compiled by various teams within the Housing and Revitalization Department (HRD), led by the Preservation Team. This dataset reflects HRD's current knowledge of multifamily units under construction in the city and will be updated as the department's knowledge changes. For more information about the City's multifamily affordable housing policies and goals, visit here.Affordability level for affordable units are measured by the percentage of the Area Median Income (AMI) that a household could earn for that unit to be considered affordable for them. For example, a unit that rents at a 60% AMI threshold would be affordable to a household earning 60% or less of the median income for the area. Rent affordability is typically defined as housing costs consuming 30% or less of monthly income. Regulated housing programs are designed to serve households based on certain income benchmarks relative to AMI, and these income benchmarks vary based on household size. Detroit city's AMI levels are set by the Department of Housing and Urban Development (HUD) for the Detroit-Warren-Livonia, MI Metro Fair Market Rent (FMR) area. For more information on AMI in Detroit, visit here.

Sub-areas of the Housing projects (flat). The sub-areas contain data on, among other things, housing type, year of completion, price range, project phase, and the number of homes per year per sub-area. Sub-areas can be related to the housing project surfaces within Woningbouwprojecten (flat). To be able to relate a sub-area to the corresponding plane within Housing projects (flat) the attribute can be PROJECT NUMBER can be used as a unique key.

Several of the largest new residential construction projects in the United Kingdom with a construction start date in 2024 were found in London. Planned Internal and External Refurbishment Works Programme in London was valued at 340 million British pounds. The housing construction market in London London is one of the best-known cities in the world. It is an important financial and economic centre, accounting for the highest share of GDP out of all the regions in the UK. It is also home to the West-End and the British Museum, and it boasts a vibrant cultural life. The economic importance and popularity of the city are some of the factors fostering a high demand for housing construction in London. In addition to the 14,270 housing starts in London in 2023/24, there was also a similar volume of housing completions. In comparison, the number of private housing starts in the UK as was estimated to be 150,000 in 2023. House repairs in the UK Housing repair and maintenance was one of the segments with the highest market shares in the UK construction industry. Meanwhile, new private housing construction represented 19 percent of the construction market in the country in 2023. Two of the largest repair and maintenance projects in 2023 were in London and in the county of Tyne and Wear (the county were Newcastle is located). The revenue of housing repair and maintenance in Great Britain has been increasing at a fast pace in the past years.

Registration of the planned and realized Residential projects in the Municipality of Eindhoven. The registration includes, among other things:
ongoing construction projects, starting construction projects, construction projects yet to be started, location of the construction projects and completed construction projects.

The Housing Projects (flat) can be related to Suite housing projects (table). The sub-areas contain data on, among other things, housing type, year of completion, price range, project phase, and the number of homes per year per sub-area.

Om Residential projects subareas (table) to be able to relate to the corresponding plane within Residential projects (plane) have we use the attribute PROJECT NUMBER as a unique key.

The figures fluctuated for the number of completed new housing projects from 2010 to 2022 in Turkey. In 2018, over ******* new projects were finished, which was the highest number recorded throughout the observed period. In 2022, about ******* new housing projects were completed in Turkey.

This dataset represents the Housing Projects (New Housing) currently on budget. Monitoring the phases of Pipeline, Planning, Under Construction and Complete adding information such as units, area and budget information. Dataset is used to inform departments re current and future Housing projects. read more

This statistic represents the houses grounded for construction in housing projects across India from ************ to **********. The houses grounded for construction in housing projects across the country were approximately ******* thousand as of *************, up from around ******* grounded houses as of ****************.

Graph and download economic data for Production, Sales, Work Started and Orders: Construction Work Started on Dwellings: Economic Activity: Construction of Buildings for United States (WSCNDW01USA661S) from 1955 to 2023 about housing starts, buildings, residential, construction, housing, and USA.

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US Residential Construction Market Size 2025-2029

The US residential construction market size is forecast to increase by USD 242.9 million at a CAGR of 4.5% between 2024 and 2029.

The Residential Construction Market in the US is experiencing significant growth driven by increasing household formation rates and a rising focus on sustainability in new projects. According to the latest data, household formation is projected to continue growing at a steady pace, fueling the demand for new residential units. This trend is particularly evident in urban areas, where population growth and limited space for new development are driving up demand. Meanwhile, the emphasis on sustainability in residential construction is transforming the market landscape. With consumers increasingly prioritizing energy efficiency and eco-friendly features in their homes, builders and developers are responding by incorporating green technologies and sustainable materials into their projects.
This shift not only appeals to environmentally-conscious consumers but also offers long-term cost savings and regulatory compliance benefits. However, the market is not without challenges. Skilled labor shortages continue to pose a significant hurdle for large-scale residential real estate projects. The ongoing shortage of skilled laborers, including carpenters, electricians, and plumbers, is driving up labor costs and delaying project timelines. To mitigate this challenge, some builders are exploring alternative solutions, such as modular construction and automation, to streamline their operations and reduce their reliance on traditional labor sources. The Residential Construction Market in the US presents significant opportunities for companies seeking to capitalize on the growing demand for new housing units and the shift towards sustainability.
However, navigating the challenges of labor shortages and rising costs will require innovative solutions and strategic planning. By staying informed of market trends and adapting to evolving consumer preferences, companies can effectively position themselves for success in this dynamic market.

What will be the size of the US Residential Construction Market during the forecast period?

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The residential construction market in the United States continues to exhibit dynamic activity, driven by various economic factors. Housing supply remains a key focus, with ongoing discussions surrounding the affordable housing trend and efforts to increase inventory, particularly for single-family homes and new constructions. Mortgage and federal funds rates have an impact on residential investment, with fluctuations influencing buyer decisions and construction costs. The labor market plays a crucial role, as workforce availability and wages affect both housing starts and cancellation rates. Inflation and interest rates, monitored closely by the Federal Reserve, also shape the market's direction. Recession risks and economic conditions influence construction spending across various sectors, including multifamily and single-family homes.
Federal programs, such as housing choice vouchers and fair housing initiatives, continue to support home buyers and promote equitable housing opportunities. Building permits and housing starts serve as essential indicators of market health and future growth, with some sectors experiencing double-digit growth. Overall, the residential construction market in the US remains a significant economic driver, shaped by a complex interplay of economic, demographic, and policy factors.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Apartments and condominiums
  Luxury Homes
  Other types


Type

  New construction
  Renovation


Application

  Single family
  Multi-family


Construction Material

  Wood-framed
  Concrete
  Steel
  Modular/Prefabricated


Geography

  US

By Product Insights

The apartments and condominiums segment is estimated to witness significant growth during the forecast period.

The residential construction market in the US is experiencing growth in both the apartment and condominium sectors, driven by the increasing trend toward urbanization and changing lifestyle preferences. Apartments, typically owned by property management companies, and condominiums, with individually owned units within a larger complex, contribute significantly to the market. The Federal Reserve's influence on the economy through the federal funds rate and mortgage rates impacts borrowing rates and home construction activity. The affordability of housing, particularly for younger generations, is a concern due to factors such as inflation, labor market conditions, and savings

Most of the new housing permits for privately owned projects in the United States in 2023 were either single-family buildings. Nevertheless, the number of permits for multifamily construction projects with * housing units or more has risen significantly in the past decade. The south of the United States was the region where the highest number of single-family building permits were issued.

The NYC Department of City Planning’s (DCP) Housing Database contains all NYC Department of Buildings (DOB) approved housing construction and demolition jobs filed or completed in NYC since January 1, 2010. It includes the three primary construction job types that add or remove residential units: new buildings, major alterations, and demolitions, and can be used to determine the change in legal housing units across time and space. Records in the Housing Database Project-Level Files are geocoded to the greatest level of precision possible, subject to numerous quality assurance and control checks, recoded for usability, and joined to other housing data sources relevant to city planners and analysts. Data are updated semiannually, at the end of the second and fourth quarters of each year. Please see DCP’s annual Housing Production Snapshot summarizing findings from the 21Q4 data release here. Additional Housing and Economic analyses are also available. The NYC Department of City Planning’s (DCP) Housing Database Unit Change Summary Files provide the net change in Class A housing units since 2010, and the count of units pending completion for commonly used political and statistical boundaries (Census Block, Census Tract, City Council district, Community District, Community District Tabulation Area (CDTA), Neighborhood Tabulation Area (NTA). These tables are aggregated from the DCP Housing Database Project-Level Files, which is derived from Department of Buildings (DOB) approved housing construction and demolition jobs filed or completed in NYC since January 1, 2010. Net housing unit change is calculated as the sum of all three construction job types that add or remove residential units: new buildings, major alterations, and demolitions. These files can be used to determine the change in legal housing units across time and space.

France was the country with the highest number of construction starts of homes in 2023, followed by Germany, Poland, and the United Kingdom. There were at least ******* housing construction projects starting and a similar number of projects being completed that year. Meanwhile, Bosnia and Herzegovina had less than ***** construction completions, and Hungary had ****** home completions in 2023. A hiccup in residential construction in Poland Not only was Poland amongst the countries with the most homes built on overall terms, but, along with Ireland, it also had the most housing completions per capita in Europe. That was despite the number of housing units completed in Poland declining significantly in 2023. Nevertheless, the trend in residential construction has been very positive in the past years, rising from under ******* in 2014 to slightly under ******* in 2022.

France’s capital region had the busiest residential construction segment France had one of the largest construction sectors in Europe.Although the construction starts of residential and commercial buildings in France decreased in 2023, they still covered nearly ** million square meters. Most of that corresponded to housing. However, that activity was unevenly distributed across the country. The revenue of the building construction and renovation industry in Île-de-France was nearly twice higher than that of the second region in the ranking.

Graph and download economic data for New Privately-Owned Housing Units Under Construction: Total Units (UNDCONTSA) from Jan 1970 to Jun 2025 about construction, new, private, housing, and USA.

This dataset contains multifamily housing sites in the City of Detroit meeting the following criteria:

An updated status list of social housing construction schemes that are advancing nationwide, following on from the previous status list published in May, 2017.

This dataset represents affordable housing development/preservation that is supported by the State of Connecticut Department of Housing. It includes units that have been completed under the current administration and when, or are actively under construction. Completion dates/percentages for HTCC only developments are based upon the most recently submitted quarterly statements. Projects labeled as "Under Construction" include those that have had reported greater than 0% completed. Projects labeled as "In Progress" include those that have received funding commitments but have not yet reported a % complete. * In some cases the Total DOH & CHFA funding exceeds Total Project Cost due to CHFA construction financing. Only projects with a Board Approval (or application date if Board Approval N/A), Initial Close, Final Close or Construction Completion % date after 1/1/19 are to be included on list Any Subtotal/Total amounts may be inflated due to multiple applications being captured for a single project All projects specified as Family in the "Family or Elderly" column are non-age restrictive Projects that have Final Closed prior to 2019 are not shown Projects that were approved for funding or under construction but not yet complete, prior to 2019 are included *Total Equity is an aggregate of 4%, 9%, SHPO, & HTCC equities

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In 2024, approximately ***** thousand housing starts were initiated in Japan. This represented a decline of *** percent compared to the previous year. It was the second time since 1995 that the number of new dwellings started fell below *** thousand. Housing construction in Japan Both, the number of and floor area of new construction projects declined compared to 2023. Broken down by type of building, apartment construction starts exceeded the number of single-family home construction starts for the second time in the past decade. Looking at the number of construction starts by use, construction starts for single family homes for sale saw the sharpest decline, while construction starts for homes for rent remained the largest category. Housing stock in Japan Japan’s housing stock comprises more than ** million dwellings, with detached houses accounting for the largest number of occupied dwellings, followed by apartment buildings. As a result of the demographic development, the growing housing stock already exceeds the number of households, resulting in rising vacancy rates across the country. As of 2018, around ***** million dwellings were estimated to not meet the requirements of a new seismic code for buildings introduced in 1981, a share of around ** percent which the government aims to reduce to zero by 2025.