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

Global Single-Family Housing Construction (Individual Houses) market size is expected to reach $1021.65 billion by 2029 at 6.2%, rising demand for single-family housing construction drives market growth

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 ** 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 *** 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.

The value of new residential construction put in place in the United States increased to *** U.S. dollars in 2024, and it is expected to keep increasing in the coming years. These figures refer to the construction of single-family and multi-family housing, as well as to the value of the home improvements segment, which includes additions, alterations, and major replacements. Non-residential construction spending rose significantly in 2024.

Graph and download economic data for New Privately-Owned Housing Units Started: Single-Family Units (HOUST1F) from Jan 1959 to Aug 2025 about housing starts, privately owned, 1-unit structures, family, housing, and USA.

There were approximately ******* building permits for single-family housing units granted in the United States in 2024. That number was lower than in 2021, when the number of building permits peaked. However, those figures increased again in 2024. The numbers still remain considerably lower than its 2005 peak with **** million building permits.

What is considered a single-family home? Single-family homes are detached, independent properties built as the residence for one person, family, or household. In 2025, it is expected that the number of single-family housing units under construction in the United States will increase to over *** million. In 2024, New York was one of the cities in the U.S. with the highest construction costs for residential single-family buildings. However, there were significant differences between the costs of a multi-family and a single-detached home. What is the price of a single-family home in the United States? Price is one of the main factors in deciding whether to buy an existing or new home. In 2023, the median sales price of an existing single-family home in the United States increased slightly, reaching ******* U.S. dollars. However, the price of single-family houses can vary a lot depending on its location and other factors.

The value of single-family housing construction in the United States is expected to reach over *** billion U.S. dollars by 2025. Single family housing starts were not heavily affected by COVID-19 in 2020, as there was an increase in dollar value when compared to 2019. Indeed, starts grew by over ** billion U.S. dollars - or more than ** percent - between 2019 to 2020, even though new residential construction figures for the United States did decline significantly early in 2020. It is also forecasted that U.S. home sales will further increase.

Graph and download economic data for New Privately-Owned Housing Units Completed: Single-Family Units (COMPU1UNSA) from Jan 1968 to Aug 2025 about 1-unit structures, family, new, private, housing, and USA.

The price of multifamily units under construction in the United States increased significantly more than that of single-family homes in 2024. While the price of single-family houses was *** percent higher than in the previous year, those figures amounted to over **** percent for multifamily residential units. The overall cost of construction materials in the U.S. increased noticeably in 2021 and 2022.

New Single Family Housing Units Authorized For Construction in Maryland and its jurisdictions from 2010 to 2022. Source from the U.S. Department of Commerce. Bureau of the Census.

Home builders construct single-family homes while also remodeling houses and other residential buildings. Perennially low housing stock has driven new housing development throughout the current period. Still, from early 2022 through mid-2024, the Federal Reserve rose or maintained interest rates up from historic lows; these rate hikes sent housing starts into a steady decline. Loans have become less accessible, with mortgage rates increasing, discouraging property developers from breaking ground on more residential projects. Even as the Federal Reserve has cut rates since mid-2024, mortgage rates, which are only indirectly impacted by the federal funds rate, have largely increased. Even as housing starts have fallen over recent years, house prices have seen strong growth, allowing builders to see growth. Overall, industry revenue is set to push up at a CAGR of 2.9% to $166.9 billion over the five years through 2025, including a 1.6% increase in 2025 alone. Spikes in the 30-year conventional mortgage rate reduced the number of projects available for home builders. Inflationary concerns have also led more consumers to rent instead of buy. A bright spot has been state and federal projects like affordable housing programs in large metropolitan cities. Home builders also cut expenses and raised profit by hiring subcontractors. The basic underlying need for more housing has remained strong throughout the period. Interest rates are set to gradually fall over the coming years, while the nation will remain in its housing shortage, driving growth for home builders. Home builders will aim to differentiate themselves by building homes that meet sustainability standards to achieve Leadership in Energy and Environmental Design (LEED) certification. Government programs and households will continue to be a source of income for many homebuilders. The Trump administration has proposed using federal lands for housing development but is also set to drive up costs for builders through its tariff policies. Overall, revenue is set to climb at a CAGR of 1.8% to reach $182.8 in 2030.

Housing Starts Single Family in the United States decreased to 890 Thousand units in August from 957 Thousand units in July of 2025. This dataset includes a chart with historical data for the United States Housing Starts Single Family.

Housing Starts in the United States decreased to 1307 Thousand units in August from 1429 Thousand units in July 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.

The duration of single-family home construction projects in the United States decreased significantly in 2024. That happened after years of noticeable increases in the length of time it took to complete projects. On average, it took a month for a house to be authorized by a building permit and reach its construction start phase in 2020, but that same process required *** months in 2024. Meanwhile, the time from start to completion of a single-family home increased from *** months in 2020 to *** months in 2024. Multifamily homes were nevertheless the most time-intensive type of residential construction project.

North America Residential Construction Market size was valued at USD 850 Billion in 2024 and is projected to reach USD 1300 Billion by 2032, growing at a CAGR of 6.5% from 2026 to 2032.North America Residential Construction Market DynamicsThe key market dynamics that are shaping the North America residential construction market include:Key Market Drivers:Housing Demand and Demographic Shifts: U.S. Census Bureau's comprehensive demographic analysis reports 17.3% increase in first-time homebuyers under 35. Millennials now account for 43% of mortgage applications, driving historic USD 1.5 trillion in housing market demand and profoundly changing residential real estate dynamics.Sustainable Building Technologies: In accordance to the thorough sustainability report published by the United States Green Building Council, green certifications are now used in 48% of new residential construction. Energy-efficient buildings consistently attract 7.1% higher market values, indicating a significant economic incentive for sustainable residential construction techniques.

The average construction cost of a single-family home in the United States was about ******* U.S. dollars in 2024, about ****** U.S. dollars more expensive than in 2022. The source also adds that interior finishes – which includes insulation, flooring, and appliances – accounted for the largest share of costs at ** percent. U.S. housing construction slows Construction work was underway on over 1,000 single-family housing units in the United States in 2024. This number increased year-on-year between 2011 and 2021, followed by a notable decline in the next two years. Despite this trend, the industry experts are optimistic about construction levels picking up until 2026. The median size of a new single-family home has also shrunk. In 2023, the average home had approximately ***** square feet of floor space, about *** square feet less than in 2015. How many homes are sold each year in the United States? Less than ************ homes were sold in the United States in 2023, the majority of which were existing home sales. The median sales price of an existing single-family home was ******* U.S. dollars in that year, a figure that has risen steadily since 2011. Those in the market for a newly constructed single-family home will have to pay more, with the median sales price at ******* U.S. dollars in 2022.

Global Single-Family Housing Green Buildings market size is expected to reach $309.57 billion by 2029 at 14.9%, millennials drive surge in single-family green homes a growing interest in sustainable living

Residential Construction Market Outlook

The global residential construction market size was valued at $XX billion in 2023 and is projected to reach $XX billion by 2032, growing at a compound annual growth rate (CAGR) of XX% during the forecast period. This considerable growth is driven by several factors, including increasing urbanization, rising disposable incomes, and government initiatives focused on housing development. The expanding population, especially in emerging economies, and the growing trend toward nuclear families are also crucial drivers bolstering the market's growth.

One of the primary growth factors for the residential construction market is the rapid urbanization observed worldwide. As more people move from rural areas to urban centers in search of better employment opportunities and improved living standards, the demand for residential units in cities has skyrocketed. Urbanization not only increases the demand for new housing but also necessitates the renovation and upgrading of existing infrastructure to accommodate the growing population. Additionally, governments around the world are implementing policies and offering incentives to stimulate the housing sector, thus directly contributing to market growth.

Another significant driver is the rise in disposable incomes, especially in developing nations. Higher disposable incomes enable individuals and families to invest in better housing, resulting in increased demand for residential construction. Economic growth in various regions has led to a higher standard of living, with more people aspiring to own homes that offer enhanced comfort and amenities. This trend is complemented by the availability of favorable financing options and mortgage rates, which make home buying more accessible to a larger segment of the population.

Technological advancements in construction techniques and materials are also playing a pivotal role in the market's growth. Innovations such as prefabrication, 3D printing, and green building materials are not only making construction quicker and more cost-efficient but are also aligning with the growing demand for sustainable and energy-efficient homes. These technological improvements are attracting both homeowners and real estate developers, eager to reduce costs and enhance the quality of construction. Consequently, technology is evolving into a critical enabler of the marketÂ’s expansion.

Regionally, Asia Pacific is expected to dominate the residential construction market during the forecast period. Rapid economic development, substantial urban migration, and supportive governmental policies are driving the market in this region. Countries like China and India, with their massive populations and expanding middle classes, present immense opportunities for residential construction. However, North America and Europe are also experiencing steady growth, driven by urban renewal projects and an increasing focus on sustainable living spaces. The Middle East & Africa and Latin America, while smaller in market share, are anticipated to witness moderate growth fueled by urbanization and infrastructural investments.

Construction Spending plays a pivotal role in shaping the dynamics of the residential construction market. The allocation of funds towards building new homes and renovating existing structures directly influences the pace and scale of market growth. Governments and private investors are increasingly recognizing the importance of strategic construction spending to address housing shortages and improve living conditions. By channeling resources into construction projects, stakeholders can stimulate economic activity, create jobs, and enhance infrastructure. This financial commitment not only supports the development of new residential units but also ensures the modernization and sustainability of existing housing stock, aligning with broader urban development goals.

Type Analysis

The residential construction market can be segmented by type into single-family housing and multi-family housing. Single-family housing remains a dominant segment, driven by the growing preference for privacy and individual living spaces. This trend is particularly prominent in North America and Europe, where suburban living is highly popular. Single-family homes offer the luxury of private outdoor spaces, better control over living conditions, and more room for customization, making them highly desirable among homeowners. The financial incentives provided by g

The single-family home construction industry in the United States experienced a deacceleration in the decade of the 2010s, compared to the levels seen around 50 years back. In the *****, there was around **** single-family building construction starts, and by the *****, this figure decreased to just *** million construction starts. This analysis disregards the population growth rate of the country.

There were approximately 982,000 building permits for single-family housing units granted in the United States in 2024. That number was lower than in 2021, when the number of building permits peaked. However, those figures increased again in 2024. The numbers still remain considerably lower than its 2005 peak with 1.68 million building permits.

What is considered a single-family home? Single-family homes are detached, independent properties built as the residence for one person, family, or household. In 2025, it is expected that the number of single-family housing units under construction in the United States will increase to over 1.1 million. In 2024, New York was one of the cities in the U.S. with the highest construction costs for residential single-family buildings. However, there were significant differences between the costs of a multi-family and a single-detached home. What is the price of a single-family home in the United States? Price is one of the main factors in deciding whether to buy an existing or new home. In 2023, the median sales price of an existing single-family home in the United States increased slightly, reaching 389,300 U.S. dollars. However, the price of single-family houses can vary a lot depending on its location and other factors.