Housing Starts in the United States decreased to 1256 Thousand units in May from 1392 Thousand units in April 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 US residential real estate market, a cornerstone of the American economy, is projected to experience steady growth over the next decade. While the provided CAGR of 2.04% is a modest figure, it reflects a market maturing after a period of significant expansion. This sustained growth is driven by several key factors. Firstly, population growth and urbanization continue to fuel demand for housing, particularly in densely populated areas and emerging suburban markets. Secondly, low interest rates (historically, though this can fluctuate) have made mortgages more accessible, stimulating buyer activity. Thirdly, a robust construction sector, though facing challenges in material costs and labor shortages, is gradually increasing the housing supply, mitigating some of the upward pressure on prices. However, challenges remain. Rising inflation and potential interest rate hikes pose a risk to affordability, potentially dampening demand. Furthermore, the ongoing evolution of remote work is reshaping residential preferences, with a shift toward larger homes in suburban or exurban locations. This trend impacts the relative demand for various property types, potentially increasing the appeal of landed houses and villas compared to apartments and condominiums in certain regions. The segmentation of the market into apartments/condominiums and landed houses/villas provides crucial insights into consumer preferences and investment strategies. High-density urban areas will continue to see strong demand for apartments and condos, while suburban and rural areas are likely to experience a greater increase in landed property sales. Major players like Simon Property Group, Mill Creek Residential, and others are strategically adapting to these trends, focusing on both development and management across various property types and geographic locations. Analyzing regional data within the US (e.g., comparing growth in the Northeast versus the Southwest) will highlight market nuances and potential investment opportunities. While the global data provided is valuable for understanding broader market forces, focusing the analysis on the US market allows for a more granular understanding of the specific drivers, trends, and challenges within this significant segment of the real estate sector. The forecast period (2025-2033) suggests continued, albeit measured, expansion. Recent developments include: May 2022: Resource REIT Inc. completed the sale of all of its outstanding shares of common stock to Blackstone Real Estate Income Trust Inc. for USD 14.75 per share in an all-cash deal valued at USD 3.7 billion, including the assumption of the REIT's debt., February 2022: The largest owner of commercial real estate in the world and private equity company Blackstone is growing its portfolio of residential rentals and commercial properties in the United States. The company revealed that it would shell out about USD 6 billion to buy Preferred Apartment Communities, an Atlanta-based real estate investment trust that owns 44 multifamily communities and roughly 12,000 homes in the Southeast, mostly in Atlanta, Nashville, Charlotte, North Carolina, and the Florida cities of Jacksonville, Orlando, and Tampa.. Key drivers for this market are: Investment Plan Towards Urban Rail Development. Potential restraints include: Italy’s Fragmented Approach to Tenders. Notable trends are: Existing Home Sales Witnessing Strong Growth.

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q1 2025 about sales, housing, and USA.

Key information about House Prices Growth

• US house prices grew 5.2% YoY in Dec 2024, following an increase of 5.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1992 to Dec 2024, with an average growth rate of 5.4%.
• House price data reached an all-time high of 17.7% in Sep 2021 and a record low of -12.4% in Dec 2008.

Nahb Housing Market Index in the United States decreased to 32 points in June from 34 points in May of 2025. This dataset provides the latest reported value for - United States Nahb Housing Market Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

U.S. Housing Market size is estimated to be valued at USD 52.14 Tn in 2025 and is expected to expand at a CAGR of 4.9%, reaching USD 72.88 Tn by 2032.

Despite the pandemic's broader economic disruptions, low interest rates in 2020 initially fueled a housing market boom driven by work-from-home orders and a shift toward residential construction. This surge was a lifeline for builders amid economic turbulence. However, the tide turned in 2022 and 2023 as the Federal Reserve's interest rate hikes curbed housing investments, dampening consumer enthusiasm and slowing residential construction activity. Low housing stock and rate cuts late in 2024 led to growth in single-family housing starts, boosting revenue. Single-family home development climbed in more affordable and less densely populated areas in 2024, but new multifamily developments have plummeted. Industry revenue has been climbing at a CAGR of 0.8% over the past five years to total an estimated $233.5 billion in 2025, including an estimated increase of 0.2% in 2025 alone. The initial boom in 2020 and 2021 led to one of the most significant expansions in home-building in recent memory, yet interest rate hikes soon tempered this growth. As smaller-scale developers struggled with escalating construction costs and regulatory hurdles, larger, financially robust companies like DR Horton, Lennar and PulteGroup managed to thrive and expand their operations. These larger companies maximized their market share, leveraging their resources to navigate the challenging economic climate and maintain momentum despite the pressures of rising material costs and labor shortages. These rising material costs and labor shortages have driven up purchase and wage costs, contributing to profit declines over the past five years. Expected interest rate cuts will boost housing developers. Developers will benefit from these favorable conditions, especially those who strategically invest in less densely populated areas to meet the growing appetite for affordable housing. Rate cuts will also provide relief to smaller housing developers more sensitive to interest rate fluctuations. Sustainability also looms on the horizon, with tax incentives and energy-efficient building standards encouraging developers to explore eco-friendly construction. Still, rising material costs and labor shortages will continue to stifle profit growth and increase housing prices. Larger companies will continue to gain market share, strategically developing homes near areas with strong job growth near new large manufacturing facilities. Industry revenue is forecast to expand at a CAGR of 1.4% to total an estimated $250.6 billion through the end of 2030.

Graph and download economic data for Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q1 2025 about sales, median, housing, and USA.

The year-end value of the S&P Case Shiller National Home Price Index amounted to 321.45 in 2024. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given year, for example, it means that the house prices increased by 30 percent since 2000. S&P/Case Shiller U.S. home indices – additional informationThe S&P Case Shiller National Home Price Index is calculated on a monthly basis and is based on the prices of single-family homes in nine U.S. Census divisions: New England, Middle Atlantic, East North Central, West North Central, South Atlantic, East South Central, West South Central, Mountain and Pacific. The index is the leading indicator of the American housing market and one of the indicators of the state of the broader economy. The index illustrates the trend of home prices and can be helpful during house purchase decisions. When house prices are rising, a house buyer might want to speed up the house purchase decision as the transaction costs can be much higher in the future. The S&P Case Shiller National Home Price Index has been on the rise since 2011.The S&P Case Shiller National Home Price Index is one of the indices included in the S&P/Case-Shiller Home Price Index Series. Other indices are the S&P/Case Shiller 20-City Composite Home Price Index, the S&P/Case Shiller 10-City Composite Home Price Index and twenty city composite indices.

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Residential Real Estate Market Size 2025-2029

The residential real estate market size is forecast to increase by USD 485.2 billion at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth, fueled by increasing marketing initiatives that attract potential buyers and tenants. This trend is driven by the rising demand for housing solutions that cater to the evolving needs of consumers, particularly in urban areas. However, the market's growth trajectory is not without challenges. Regulatory uncertainty looms large, with changing policies and regulations posing a significant threat to market stability. Notably, innovative smart home technologies, such as voice-activated assistants and energy-efficient appliances, are gaining traction, offering enhanced convenience and sustainability for homeowners.
As such, companies seeking to capitalize on the opportunities presented by the growing the market must navigate these challenges with agility and foresight. The residential construction industry's expansion is driven by urbanization and the rising standard of living in emerging economies, including India, China, Thailand, Malaysia, and Indonesia. By staying abreast of regulatory changes and implementing innovative marketing strategies, they can effectively meet the evolving needs of consumers and maintain a competitive edge. These regulatory shifts can impact everything from property prices to financing options, making it crucial for market players to stay informed and adapt quickly.

What will be the Size of the Residential Real Estate Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic housing market analysis, small flats continue to be a popular choice for both investors and first-time homebuyers, driven by affordability and urban growth. International investment in housing projects, including apartments and condominiums, remains strong, offering attractive investment returns. Real estate syndication and property management software facilitate efficient property ownership and management. Real estate loans, property insurance, and urban planning are essential components of the housing market, ensuring the development of affordable housing and addressing the needs of the middle class and upper middle class. Property disputes, property tax assessments, and real estate litigation are ongoing challenges, requiring careful attention from stakeholders.
Property search engines streamline the process of finding the perfect property, from studio apartments to luxury homes. Real estate auctions, land banking, and nano apartments are innovative solutions in the market, while property flipping and short sales provide opportunities for savvy investors. Urban growth and community development are key trends, with a focus on sustainable, planned cities and the integration of technology, such as real estate blockchain, into the industry. Developers secure building permits, review inspection reports, and manage escrow accounts during real estate transactions. Key services include contract negotiation, dispute resolution, and tailored investment strategies for portfolio management. Financial aspects cover tax implications, estate planning, retirement planning, taxdeferred exchanges, capital gains, tax deductions, and maintaining positive cash flow for sustained returns.

How is this Residential Real Estate Industry segmented?

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

Mode Of Booking

  Sales
  Rental or lease


Type

  Apartments and condominiums
  Landed houses and villas


Location

  Urban
  Suburban
  Rural


End-user

  Mid-range housing
  Affordable housing
  Luxury housing


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  APAC

    Australia
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Mode Of Booking Insights

The sales segment is estimated to witness significant growth during the forecast period. The sales segment dominates the global residential real estate market and will continue to dominate during the forecast period. The sales segment includes the sale of any property that is majorly used for residential purposes, such as single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences. With the growing population and urbanization, the demand for homes is also increasing, which is the major factor driving the growth of the sales segment. Moreover, real estate firms work with developers to sel

Housing Starts Single Family in the United States increased to 924 Thousand units in May from 920 Thousand units in April of 2025. This dataset includes a chart with historical data for the United States Housing Starts Single Family.

Total Housing Inventory in the United States increased to 1540 Thousands in May from 1450 Thousands in April of 2025. This dataset includes a chart with historical data for the United States Total Housing Inventory.

Housing Starts Multi Family in the United States decreased to 316 Thousand units in May from 454 Thousand units in April of 2025. This dataset includes a chart with historical data for the United States Housing Starts Multi Family.

Graph and download economic data for Housing Inventory: Median Days on Market Month-Over-Month in the United States (MEDDAYONMARMMUS) from Jul 2017 to Jun 2025 about median and USA.

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.

Housing Starts MoM in the United States decreased to -9.80 percent in May from 2.70 percent in April of 2025. This dataset includes a chart with historical data for the United States Housing Starts MoM.

The US residential real estate market, a cornerstone of the national economy, is projected to experience steady growth over the forecast period (2025-2033). While precise market size figures for 2019-2024 are unavailable, leveraging the provided 2.04% CAGR and considering typical market fluctuations, a reasonable estimate for the 2025 market size can be derived. Assuming a 2025 market size of $4 trillion (a conservative estimate considering the scale of the US housing market), the projected growth reflects ongoing demand fueled by population growth, urbanization, and a persistent need for housing across various price points. Key drivers include rising household formations, particularly among millennials and Gen Z, low interest rates (historically speaking) stimulating borrowing, and ongoing investment in infrastructure improvements that enhances desirability in certain areas. Emerging trends like the increasing popularity of sustainable and smart homes, remote work's impact on suburban demand, and the growing preference for multi-family dwellings are shaping market dynamics. Restraining factors include persistently high construction costs, limited housing inventory in desirable locations, and the potential for interest rate adjustments that could dampen buying activity. Leading players like Simon Property Group, Mill Creek Residential, and others are navigating this evolving landscape through strategic acquisitions, development projects, and innovative property management techniques. The steady, albeit moderate, CAGR of 2.04% reflects a market maturing beyond periods of rapid expansion. This controlled growth indicates a market finding a stable equilibrium between supply and demand. While challenges remain, particularly concerning affordability and inventory, the underlying drivers of population growth and the fundamental need for housing suggest that the long-term outlook for the US residential real estate market remains positive. The segmentation of the market (while unspecified here) likely includes distinctions based on property type (single-family homes, condos, townhouses, apartments), location (urban, suburban, rural), and price range. A granular analysis of these segments would provide a more nuanced understanding of the growth trajectory and potential opportunities within each sub-sector. Key drivers for this market are: Investment Plan Towards Urban Rail Development. Potential restraints include: Italy’s Fragmented Approach to Tenders. Notable trends are: Existing Home Sales Witnessing Strong Growth.

The United States Residential Real Estate Market is Segmented by Property Type (Apartments and Condominiums, and Villas and Landed Houses), by Price Band (Affordable, Mid-Market and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary and Secondary), and by Region (Northeast, Midwest, Southeast, West and Southwest). The Market Forecasts are Provided in Terms of Value (USD)

Explore the Redfin USA Properties Dataset, available in CSV format. This extensive dataset provides valuable insights into the U.S. real estate market, including detailed property listings, prices, property types, and more across various states and cities. Perfect for those looking to conduct in-depth market analysis, real estate investment research, or financial forecasting.

Key Features:

• Comprehensive Property Data: Includes essential details such as listing prices, property types, square footage, and the number of bedrooms and bathrooms.
• Geographic Coverage: Encompasses a wide range of U.S. states and cities, providing a broad view of the national real estate market.
• Historical Trends: Analyze past market data to understand price movements, regional differences, and market trends over time.
• Geo-Location Details: Enables spatial analysis and mapping by including precise geographical coordinates of properties.

Who Can Benefit From This Dataset:

• Real Estate Investors: Identify lucrative opportunities by analyzing property values, market trends, and regional price variations.
• Market Analysts: Gain a deeper understanding of the U.S. housing market dynamics to inform research and reporting.
• Data Scientists and Researchers: Leverage detailed real estate data for modeling, urban studies, or economic analysis.
• Financial Analysts: Utilize the dataset for financial modeling, helping to predict market behavior and assess investment risks.

Download the Redfin USA Properties Dataset to access essential information on the U.S. housing market, ideal for professionals in real estate, finance, and data analytics. Unlock key insights to make informed decisions in a dynamic market environment.

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The US residential real estate market, a significant component of the global market, is characterized by a moderate but steady growth trajectory. With a projected Compound Annual Growth Rate (CAGR) of 2.04% from 2025 to 2033, the market demonstrates resilience despite fluctuating economic conditions. The 2025 market size, while not explicitly provided, can be reasonably estimated based on available data and considering recent market trends. Assuming a continuation of the observed growth pattern in preceding years, a substantial market value in the trillions is plausible. Key drivers include sustained population growth, particularly in urban areas, increasing household formations among millennials and Gen Z, and ongoing demand for both rental properties (apartments and condominiums) and owner-occupied homes (landed houses and villas). However, challenges persist, including rising interest rates which impact affordability, supply chain constraints affecting new construction, and the potential for macroeconomic shifts to influence buyer confidence. Segmentation analysis highlights the varying performance across property types, with apartments and condominiums potentially experiencing higher demand in urban centers while landed houses and villas appeal to a different demographic profile and geographic distribution. The competitive landscape includes a mix of large publicly traded real estate investment trusts (REITs) like AvalonBay Communities and Equity Residential, regional developers like Mill Creek Residential, and established brokerage firms such as RE/MAX and Keller Williams Realty Inc., all vying for market share within distinct segments. The geographical distribution of the market shows significant concentration within North America, particularly in the US, reflecting established infrastructure, economic stability, and favorable regulatory environments. While other regions like Europe and Asia-Pacific contribute to the global market, the US continues to be a dominant force. The forecast period (2025-2033) suggests continued expansion, albeit at a moderate pace, indicating a relatively stable and mature market that remains attractive for investment and development. Future growth hinges upon addressing affordability concerns, navigating fluctuating interest rates, and managing supply-demand dynamics to ensure sustainable market expansion. Government policies influencing housing affordability and construction regulations will play a crucial role in shaping the future trajectory of the US residential real estate sector. Recent developments include: May 2022: Resource REIT Inc. completed the sale of all of its outstanding shares of common stock to Blackstone Real Estate Income Trust Inc. for USD 14.75 per share in an all-cash deal valued at USD 3.7 billion, including the assumption of the REIT's debt., February 2022: The largest owner of commercial real estate in the world and private equity company Blackstone is growing its portfolio of residential rentals and commercial properties in the United States. The company revealed that it would shell out about USD 6 billion to buy Preferred Apartment Communities, an Atlanta-based real estate investment trust that owns 44 multifamily communities and roughly 12,000 homes in the Southeast, mostly in Atlanta, Nashville, Charlotte, North Carolina, and the Florida cities of Jacksonville, Orlando, and Tampa.. Notable trends are: Existing Home Sales Witnessing Strong Growth.