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

Graph and download economic data for New Privately-Owned Housing Units Under Construction: Total Units from Dec 1969 to Feb 2025 about construction, new, private, housing, and USA.

In 2023, there were approximately 354,730 housing units under construction in population centers of over 10,000 people in Canada. Those numbers for 2023 were lower than the figures a year earlier. However, during most of the period considered the number of homes under construction generally increased, as there were less than 145,000 homes under construction in 2009. Development of residential construction in Canada The number of housing starts overall has developed similarly, but it was somewhat more volatile. Generally, the cities with the largest populations, like Toronto and Montreal experience the highest number of construction starts. The construction industry remains vital to Canada’s economy, providing employment to people across the country and billions in economic output. Types of housing Although many Canadians were living in single-detached houses, their cities have started to embrace multifamily starts quite early and are moving away from single family residential construction. The younger demographics in Canada, including new Canadians and young families are often striving towards homeownership but are also aware of climate change. High energy performance housing often comes with a higher price tag, but efforts are being made nationally in order to enshrine affordability as a core objective within national building codes. Datasets available for download

In February 2025, approximately 111,100 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.

In the United States, the projected number of single-family housing unit starts in 2026 is estimated to increase. After a peak in 2021, the number of home construction starts decreased two years in a row. However, those figures are expected to pick back up in the next years. Single-family homes are the preferred option for Americans Single-family homes were the most common type of home purchased in 2023 in the United States, making up roughly 79 percent of all purchases, showing that demand for single-family units remains strong. That explains why there is usually a far higher number of single-family homes than of other type of homes being built any given year. There were roughly 350 multifamily homes whose construction started in 2024. Single family housing units in the United States The median size of a single family housing unit in the United States based on square footage has remained relatively consistent over the past two decades. The cost of housing varies around the United States. In 2023, the most expensive median price of an existing single-family home was on the West coast. However, it was in the Northeast where the median price of a new single-family home was the most expensive.

United States - New Privately-Owned Housing Units Under Construction: Units in Buildings with 2-4 Units was 18.00000 Thous. of Units in February of 2025, according to the United States Federal Reserve. Historically, United States - New Privately-Owned Housing Units Under Construction: Units in Buildings with 2-4 Units reached a record high of 93.00000 in May of 1973 and a record low of 8.00000 in August of 2012. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - New Privately-Owned Housing Units Under Construction: Units in Buildings with 2-4 Units - last updated from the United States Federal Reserve on March of 2025.

In 2023, there were roughly 295 housing starts in France, most of which were destined for purchase. That was lower than in 2022, and the number of residential buildings under construction is expected keep falling in 2024 and 2025. The amount of new home construction projects for private rental has fallen a lot since 2006.

The Office of Consumer Protection (OCP) licenses builders or anyone acting in the capacity of a building contractor who constructs new homes in Montgomery County. This data consists of all active new home builder license holders. OCP does not license home improvement (ex. repair, remodeling, partial replacement, addition, or modernization, of existing structure) contractors; these contractors are licensed by Maryland Home Improvement Commission. The license information is deemed to be reliable, but we cannot guarantee the accuracy and completeness of the information. Any information that is shown to be inaccurate will be corrected if brought to the attention of OCP. Data Update Frequency : Daily

In 2021, close to ten percent of the 152.8 million homes in the United States were from the first decade of the 21st century. Between 2000 and 2009, approximately 14.6 million homes were constructed.

United States Private Housing Units Completed: saar: South: 1 Unit data was reported at 424.000 Unit th in Oct 2018. This records a decrease from the previous number of 439.000 Unit th for Sep 2018. United States Private Housing Units Completed: saar: South: 1 Unit data is updated monthly, averaging 466.500 Unit th from Jan 1985 (Median) to Oct 2018, with 406 observations. The data reached an all-time high of 979.000 Unit th in Mar 2006 and a record low of 193.000 Unit th in Mar 2011. United States Private Housing Units Completed: saar: South: 1 Unit data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s United States – Table US.EA010: Private Housing Units: Under Construction and Completed: Seasonally Adjusted Annual Rate.

Idaho and North Caroline were in 2023 the U.S. states with the highest volume of new residential construction, with over nine units authorized per 1,000 residents. On average, that year in the U.S. there were 4.51 homes authorized per 1,000 residents. The most populous states in the U.S. tend to have the highest demand for housing.

This table contains data described by the following dimensions (Not all combinations are available): Geography (13 items: Canada; Newfoundland and Labrador; Prince Edward Island; Atlantic provinces ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (6 items: Total units; Multiples; Single-detached; Semi-detached ...), Seasonal adjustment (2 items: Unadjusted; Seasonally adjusted at annual rates ...).

United States - New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More was 751.00000 Thous. of Units in January of 2025, according to the United States Federal Reserve. Historically, United States - New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More reached a record high of 1004.00000 in July of 2023 and a record low of 108.00000 in August of 1993. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More - last updated from the United States Federal Reserve on March of 2025.

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US Residential Construction Market Size 2025-2029

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

The residential construction market is experiencing significant growth, driven by several key factors. Firstly, the increasing household formation rates in the US continue to fuel demand for new housing units. Secondly, there is a rising focus on sustainability in residential construction projects, with homebuilders increasingly adopting energy-efficient and eco-friendly building materials and practices.
However, the market also faces challenges, including a shortage of skilled labor for large-scale residential real estate projects, which can impact project timelines and budgets. These trends and challenges are shaping the future of the residential construction industry in the US.

What will be the US Residential Construction Market Size During the Forecast Period?

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The residential construction market is experiencing a significant shift as the affordable housing trend gains momentum. The Federal Reserve's decision to keep the federal funds rate low has contributed to a decrease in mortgage rates, making it an opportune time for home buyers to enter the market. However, the housing supply remains a concern, with construction spending in the residential investment sector showing only modest growth. The labor market's current state is another factor influencing the residential construction industry. With a low unemployment rate, there is a high demand for labor, leading to increased wages and, in turn, higher construction costs.
Inflation also poses a challenge, as it erodes the purchasing power of home buyers and builders alike. The economy's overall health plays a crucial role in the residential construction market's dynamics. A strong economy typically leads to increased demand for new homes, as evidenced by the double-digit growth in housing starts and building permits for single-family homes. However, a recession can lead to a significant decrease in construction activity, as seen in the cancellation rate of housing projects. The Federal Reserve's interest rate decisions, inflation, and the economy's health all impact the residential construction market. Affordable housing programs, such as housing choice vouchers and fair housing programs, play a vital role in ensuring access to housing for a broader population. The construction sectors must navigate these market dynamics to remain competitive and meet the demand for new homes.
The US residential construction market is seeing significant shifts, driven by various housing market trends. Sustainable homebuilding practices are gaining momentum, with a focus on energy-efficient homes and green building materials. Modular construction and prefab housing are becoming increasingly popular for their cost-effective and timely solutions. Urban redevelopment projects are revitalizing city areas, while suburban expansion is fueling demand for new homes. Affordable housing projects are crucial in addressing housing shortages, and real estate investment continues to thrive in these sectors. Smart home integration is also on the rise, with luxury home construction embracing high-tech features. The impact of mortgage rates, coupled with multifamily housing growth and home renovation demand, adds complexity to the market's dynamics.

How is this market segmented and which is the largest segment?

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
  Villas
  Other types


Type

  New construction
  Renovation


Application

  Single family
  Multi-family


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 the apartment and condominium sectors, driven by shifting preferences and lifestyle choices. Urbanization is a significant factor fueling this trend, as more individuals opt for the conveniences and amenities offered in urban areas. As a result, developers are constructing modern, sustainable, and community-focused living spaces in the form of high-rise apartment buildings and condominium complexes. These structures cater to various demographics, including intergenerational groups and younger generations, reflecting diverse living circumstances. The labor economy and vaccination rates have also contributed to the continued activity in the residential sector, allowing for steady progress in construction projects. While the non-residential sector has faced challenges, the residential sector remains a vi

United States Private Housing Units Under Construction: Northeast: 1 Unit data was reported at 60.900 Unit th in Sep 2018. This records a decrease from the previous number of 61.900 Unit th for Aug 2018. United States Private Housing Units Under Construction: Northeast: 1 Unit data is updated monthly, averaging 72.500 Unit th from Jan 1984 (Median) to Sep 2018, with 417 observations. The data reached an all-time high of 162.000 Unit th in Oct 1987 and a record low of 33.500 Unit th in Jan 2013. United States Private Housing Units Under Construction: Northeast: 1 Unit data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA009: Private Housing Units: Under Construction and Completed.

United States Private Housing Units Under Construction: saar: South data was reported at 452.000 Unit th in Jun 2018. This records a decrease from the previous number of 454.000 Unit th for May 2018. United States Private Housing Units Under Construction: saar: South data is updated monthly, averaging 385.000 Unit th from Jan 1979 (Median) to Jun 2018, with 474 observations. The data reached an all-time high of 646.000 Unit th in Jan 2006 and a record low of 166.000 Unit th in Jul 2011. United States Private Housing Units Under Construction: saar: South data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA010: Private Housing Units: Under Construction and Completed: Seasonally Adjusted Annual Rate.

United States Private Housing Units Under Construction: saar: Northeast data was reported at 185.000 Unit th in Jun 2018. This records an increase from the previous number of 184.000 Unit th for May 2018. United States Private Housing Units Under Construction: saar: Northeast data is updated monthly, averaging 120.000 Unit th from Jan 1979 (Median) to Jun 2018, with 474 observations. The data reached an all-time high of 236.000 Unit th in Apr 1988 and a record low of 80.000 Unit th in Apr 1993. United States Private Housing Units Under Construction: saar: Northeast data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA010: Private Housing Units: Under Construction and Completed: Seasonally Adjusted Annual Rate.

The Construction Price Indexes provide price indexes for single-family houses sold and for single-family houses under construction. The indexes for houses under construction are available monthly at the national level. The indexes are based on data funded by The Department of Housing and Urban Development (HUD) and collected in the Survey of Construction (SOC).

United States Private Housing Units Under Construction: Total data was reported at 1,148.900 Unit th in Sep 2018. This records an increase from the previous number of 1,142.600 Unit th for Aug 2018. United States Private Housing Units Under Construction: Total data is updated monthly, averaging 953.950 Unit th from Dec 1969 (Median) to Sep 2018, with 586 observations. The data reached an all-time high of 1,670.700 Unit th in Aug 1973 and a record low of 408.200 Unit th in Feb 2011. United States Private Housing Units Under Construction: Total data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA009: Private Housing Units: Under Construction and Completed.

Housing Starts in the United States increased to 1501 Thousand units in February from 1350 Thousand units in January of 2025. This dataset provides the latest reported value for - United States Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.