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Multifamily Gains Lift Overall Starts Despite Single-Family Decline – Eye On Housing

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Strong multifamily growth pushed overall housing starts higher in June, while single-family production remained sluggish as elevated mortgage rates, rising construction costs and persistent labor shortages continued to weigh on the market.

Overall housing starts increased 19.0% in June to a seasonally adjusted annual rate of 1.43 million units, according to a report from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This pace reflects the number of housing units builders would begin over the next 12 months if June’s activity were sustained.

Within the total, single-family starts decreased 0.2% to an 895,000 seasonally adjusted annual rate and were down 3.2% compared to June 2025. On a year-to-date basis, single-family starts are down 5.3%. Given recent volatility, the three-month moving average provides a clearer signal, falling to 902,000 units.

Multifamily starts, which include apartment buildings and condominiums, rose 76.2% from May to June to an annualized 532,000 pace. The three-month moving average for multifamily construction has trended higher to 445,000 units, and activity is 17.2% higher compared to year-earlier levels.

Regionally, on a year-to-date basis, combined single-family and multifamily starts were 4.5% higher in the Northeast, 1.7% higher in the South, 1.2% higher in the Midwest, and 4.4% lower in the West. Single-family starts were down in all four regions.

The total number of housing units under construction stood at 1.26 million in June, down 6.2% from a year earlier. Single-family homes under construction stood at 582,000 units, a 6.9% year-over-year decline. Multifamily units under construction slowed down to 682,000, down from peaks above 1 million units in December 2023 and 5.7% lower than a year ago.

Completions of single-family homes have improved to an annual rate of about 964,000 units. This marks a 5.5% increase from a year earlier. However, multifamily completions for buildings with five or more units were down 5.1% year over year to a 413,000-unit pace. On a year-to-date basis, total completions across both sectors are down 9.5% reflecting ongoing challenges in the residential construction sector.

Overall permits declined 3.0% to a 1.37-million-unit annualized rate in June. Single-family permits decreased 2.4% to an 871,000-unit rate and are essentially flat compared to June 2025. Multifamily permits are down 4.2% to an annualized 496,000 pace and are down 5.7% compared to June 2025. Looking at regional permit data on a year-to-date basis, total permits were 15.2% higher in the Northeast, 1.4% higher in the Midwest, 0.7% higher in the West, but 6.3% lower in the South. For single-family permits, the Midwest was the only region to post an increase, rising 1.3% reflecting the residential construction strength in the region.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Two or More Story Home Starts Pull Back in 2025 – Eye On Housing

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Over half of new single-family homes built in 2025 were two or more stories, according to the recent release of the Census Bureau’s Survey of Construction (SOC). After increasing in 2024, the share of homes started with two or more stories fell in 2025. However, the gap between one-story and two-or-more-story shares has been relatively stable since 2021, with only small year-to-year fluctuations.

Nationwide, the share of new homes with two or more stories fell from 52.5% in 2024 to 51.4% in 2025, while the share of new homes with one story rose from 47.5% to 48.6%. Despite the decline, more than half of new homes built nationally in 2025 were two or more stories, though this share varied significantly across the nation.

As shown below, new homes started in the Midwest and the South generally favored single-story homes, while the Northeast and the West had higher shares of two or more stories. In the Midwest, single-story homes accounted for 55.7% of new homes started in the East North Central division and 54.3% in the West North Central division. In the South, single-story shares reached 61.7% in East South Central and 56.6% in West South Central. The South Atlantic division was the exception, with two or more story homes still the majority (54.2%).

Outside the Midwest and the South, single-story shares were lowest in New England (25.7%) and the Middle Atlantic (26.5%), while the Pacific (47.5%) and Mountain (41.9%) divisions were higher.  

Compared with 2024, single-story shares rose in the East North Central and East South Central divisions to multi-year highs, while shares in the West North Central and West South Central divisions fell to multi-year lows.

In the Northeast, where two-or-more-story homes are more common, New England rebounded and the Middle Atlantic declined further. Two divisions in the West have moved in opposite directions over the past few years. The single-story share in the Pacific has increased in seven of the last eight years, from 32.7% in 2017 to 47.5% in 2025. However, the Mountain division saw the reverse, falling from a peak of 50.7% in 2020 to 41.9% in 2025.

Looking specifically at new homes with three or more stories, the national share edged up to 5.2%, compared to 5.0% in 2017. The small increase over the past eight years has been concentrated in New England (from 7.2% to 14.1%) and the Middle Atlantic (from 14.0% to 15.1%), while the share has doubled in Mountain division (from 3.0% to 6.6%). New homes with three or more stories were less common in the Midwest and South, accounting for less than 3% of new homes started in most divisions, except the South Atlantic at 5.0%.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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2025 New Single-Family Starts by Census Division – Eye On Housing

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Persistently high mortgage rates, elevated costs for builders, and ongoing supply-side constraints continued to weigh on single-family construction in 2025. According to the NAHB analysis of the 2025 Survey of Construction (SOC), a total of 939,182 new single-family units started construction nationwide. This represents a 6.9% decline compared to 2024.

Among the nine Census divisions, the South Atlantic division continued to lead the nation with 308,189 starts in 2025, representing about one-third of all new single-family starts. The second highest was the West South Central division at 171,247 starts, followed by the Mountain division with 106,549 starts and the Pacific division with 95,940 starts. Collectively, the South Atlantic, West South Central, and Mountain divisions accounted for roughly 62% of total new single-family housing starts in 2025.

The East North Central division recorded 87,589 new single-family starts in 2025, followed by the East South Central division with 62,674 starts and the West North Central division with 44,996 starts. The Middle Atlantic division posted 42,328 starts, while New England remained the smallest division by volume, with 19,670 new single-family starts.

Regional performance varied considerably in 2025. Only three of the nine Census divisions posted year-over-year growth in single-family starts. The East South Central division recorded the strongest annual gain, rising 13.7%, followed by the East North Central division at 8.0% and the Middle Atlantic division at 4.0%.

In contrast, the remaining six divisions experienced declines. New England recorded the steepest drop, with starts falling 26.3% from the previous year. The Mountain and South Atlantic divisions, both of which posted gains in 2024, reversed course in 2025, declining 15.4% and 10.5%, respectively. Single-family starts also decreased 8.8% in the West South Central division, 7.5% in the West North Central division, and 3.3% in the Pacific division.

Overall, the 2025 SOC data points to a more uneven regional housing market than in 2024. While parts of the Midwest and the Middle Atlantic region continued to expand, declines in the nation’s largest home building regions, particularly the South Atlantic, Mountain, and West South Central divisions, more than offset those gains, driving the national decline in single-family housing starts.



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Housing Starts Weaken in May as Multifamily Construction Slows – Eye On Housing

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Housing starts fell sharply in May, driven by a steep drop in multifamily construction. Meanwhile, single-family buildings also slipped amid high interest rates, rising construction costs and ongoing labor shortages.

Overall housing starts decreased 15.4% in May to a seasonally adjusted annual rate of 1.18 million units, according to a report from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This pace reflects the number of housing units builders would begin over the next 12 months if May’s activity was sustained.

Within the total, single-family starts decreased 1.9% to an 882,000 seasonally adjusted annual rate and were down 6.7% compared to May 2025. On a year-to-date basis, single-family starts are down 6.3%. The three-month moving average fell to 933,000 units. Multifamily starts, which include apartment buildings and condominiums, dropped 40.2% from April to May to a 295,000-unit annualized pace and were down 14.2% compared to May 2025.

Regionally, on a year-to-date basis, combined single-family and multifamily starts were 17.5% higher in the Northeast, 4.1% lower in the Midwest, 1.6% lower in the South, and 4.9% lower in the West. For single-family starts, the Midwest has shown resilience, with starts holding steady on a year-to-date basis, while the Northeast, South, and West continue to post declines.

Overall permits decreased 0.7% to a 1.41-million-unit annualized rate in May. Single-family permits increased 0.6% to an 886,000-unit rate but remained 1.8% below their May 2025 level. Multifamily permits decreased 2.8% to a 527,000-unit annualized pace but were up 2.5% compared to May 2025.

Looking at regional permit data on a year-to-date basis, permits were 10% higher in the Northeast, 2.4% higher in the Midwest, 6.7% lower in the South, and 0.1% higher in the West.

The total number of housing units under construction stood at 1.27 million in May, down 7.1% from a year earlier. Single-family homes under construction totaled 587,000, a 5.9% year-over-year decline. Multifamily units under construction fell to 679,000, down 8.1% from a year ago and well below the peak of more than 1 million units reached in December 2023.

Housing completions also continued to soften. Single-family completions fell to an annual rate of 872,000 units, down 16.8% from a year earlier. Multifamily completions for buildings with five or more units declined 8.4% year over year to a 426,000-unit pace.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Single-Family Starts Fall Amid Economic Uncertainty and Affordability Pressures – Eye On

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Single-family housing starts declined in April as builders faced continued economic uncertainty and affordability challenges, including higher construction costs, ongoing labor shortages and elevated financing expenses. The latest housing starts and permits data suggest that the overall construction pipeline remains uneven across regions and property types.

Overall housing starts decreased 2.8% in April to a seasonally adjusted annual rate of 1.47 million units, according to a report from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This pace reflects the number of housing units builders would begin over the next 12 months if April’s activity were sustained.

Within the total, single-family starts decreased 9.0% to a 930,000 seasonally adjusted annual rate and were down 2.4% compared to April 2025. On a year-to-date basis, single-family starts are down 5.1%. Given recent volatility, the three-month moving average provides a clearer signal, rising to 958,000 units.

Multifamily starts, which include apartment buildings and condominiums, increased 10.3% from March to April to an annualized 535,000 pace. The three-month moving average for multifamily construction has trended higher to 481,000 units, and activity is 19.7% higher compared to year-earlier levels.

Regionally, on a year-to-date basis, combined single-family and multifamily starts were 16.6% higher in the Northeast, 1.8% higher in the South, 0.4% lower in the West, and 2.9% lower in the Midwest. For single-family starts, the Midwest was the only region to post an increase, rising 5.2% and reflecting the residential construction strength in the region.

The total number of housing units under construction stood at 1.3 million in April, down 8.5% from a year earlier. Single-family homes under construction stood at 588,000 units, a 7.0% year-over-year decline. Multifamily units under construction declined to 687,000, down from peaks above 1 million units in December 2023 and 9.8% lower than a year ago.

Completions of single-family homes have slowed to an annual rate of about 903,000 units, reflecting ongoing challenges in the residential construction sector. This marks a 7.0% decline from a year earlier. However, multifamily completions for buildings with five or more units were up 6.4% year over year to a 529,000-unit pace. On a year-to-date basis, total completions across both sectors are down 11.2%.

Overall permits increased 5.8% to a 1.44-million-unit annualized rate in April. Single-family permits decreased 2.6% to an 872,000-unit rate and are down 5.5% compared to April 2025. Multifamily permits increased 21.8% to an annualized 570,000 pace and are up 9.2% compared to April 2025. Looking at regional permit data on a year-to-date basis, total permits were 14.2% higher in the Northeast, 7.3% higher in the Midwest, 0.7% higher in the West, but 6.7% lower in the South.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Home Building Shows Signs of Stabilization with Monthly Gain in Starts – Eye On Housing

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Housing construction activity strengthened in March, with a notable rebound in both single-family and multifamily starts, signaling improved builder activity despite ongoing headwinds from financing costs and affordability constraints. While the monthly gain points to renewed momentum, year-to-date trends remain mixed, particularly in the single-family sector, and permit activity suggests some caution moving forward.

Overall housing starts increased 10.8 percent in March to a seasonally adjusted annual rate of 1.5 million units, according to a report from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This pace reflects the number of housing units builders would begin over the next 12 months if March’s activity were sustained.

Within the total, single-family starts increased 9.7 percent to a seasonally adjusted annual rate of 1.03 million units and are up 8.9 percent compared to March 2025. On a year-to-date basis, single-family starts are down 5.5 percent. Given recent volatility, the three-month moving average provides a clearer signal, rising to 957,000 units.

Multifamily starts, which include apartment buildings and condominiums, increased 13.3 percent to an annualized 470,000-unit pace and are up 15.5 percent compared to March 2025. The three-month moving average for multifamily construction has trended higher to 462,000 units, and activity is 15.5 percent higher compared to year-ago levels.

Regionally, on a year-to-date basis, combined single-family and multifamily starts were 36 percent higher in the Northeast, 7.8 percent higher in the Midwest, 3.0 percent higher in the South, but 15.5 percent lower in the West.

The total number of housing units under construction stood at 1.3 million in March, down 9.8 percent from a year earlier. Single-family homes under construction stood at 587,000 units, a 7.3 percent year-over-year decline. Multifamily units under construction declined to 677,000, down from peaks above 1 million units in December 2023 and 11.8 percent lower than a year ago.

Completions of single-family homes have slowed down to an annual rate of about 896,000 units, reflecting ongoing challenges in the residential construction sector. This marks a 14.5 percent decline from a year earlier. Multifamily completions for buildings with five or more units followed the same trend, down 9.1 percent year over year to a 452,000-unit pace. On a year-to-date basis, total completions across both sectors are down 13.5 percent.

Overall permits decreased 10.8 percent to a 1.37 million-unit annualized rate in March. Single-family permits decreased 3.8 percent to an 895,000-unit rate and are down 7.9 percent compared to March 2025. Multifamily permits decreased 21.5 percent to an annualized 477,000-unit pace and are down 6.3 percent compared to March 2025. Looking at regional permit data on a year-to-date basis, permits were 15.4 percent higher in the Northeast, 6.0 percent higher in the West, and 1.1 percent higher in the Midwest. However, permits were 9.1 percent lower in the South.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Single-Family Starts Remain Soft in January on Affordability Concerns – Eye On Housing

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Elevated construction costs and constrained affordability conditions led to a reduction in single-family housing starts in January.

However, led by solid multifamily production, overall housing starts increased 7.2% in January to a seasonally adjusted annual rate of 1.49 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The January reading of 1.49 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months.

Within this overall number, single-family starts decreased 2.8% to a 935,000 seasonally adjusted annual rate. Weather effects also likely depressed single-family construction in the Northeast, where single-family starts were down 33% from December 2025 and down more than 6% compared to January 2025 readings.

The multifamily sector, which includes apartment buildings and condos, increased 30% to an annualized 552,000 pace. However, this data may be revised lower in future revisions. Furthermore, prior NAHB analysis of the geography of permit data has shown recent gains for apartment construction occurring in lower density areas, such as exurbs, secondary cities and small towns.

On a regional basis compared to the previous month, combined single-family and multifamily starts were 47.4% higher in the Northeast, 10.8% lower in the Midwest, 11.4% higher in the South and 7.5% lower in the West.

Overall permits decreased 5.4% to a 1.38 million unit annualized rate in January. Single-family permits decreased 0.9% to an 873,000-unit rate, which is the weakest reading since August of last year. This is an indicator of relatively flat construction starts conditions for 2026 amid the ongoing affordability crisis. Multifamily permits decreased 12% to an annualized 503,000 pace.

Looking at regional permit data compared to the previous month, permits were 9.6% lower in the Northeast, 9% higher in the Midwest, 3.5% lower in the South and 15.7% in the West.

The number of single-family homes under construction fell back to 582,000 in January, down 8.8% year over year as the single-family home building market has slowed. Despite recent gains for apartment construction, the number of apartments under construction has fallen back to 686,000 units, a 10% decline from January 2025.

The multiyear trend of a smaller number of units under construction is consistent with builders pulling back construction given higher post-covid construction costs and affordability constraints.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Overall Housing Starts Inch Lower in 2025 – Eye On Housing

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Despite a strong finish in December, single-family home building dipped in 2025 as persistent affordability challenges continued to weigh on the market.

Total housing starts for 2025 were 1.36 million, down 0.6% from the 1.37 million total in 2024. Single-family starts in 2025 totaled 943,000, down 6.9% from the previous year. Multifamily starts ended the year up 17.4% compared with 2024.

Overall housing starts increased 6.2% in December to a seasonally adjusted annual rate of 1.40 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This pace reflects the number of housing units builders would begin over the next 12 months if December’s activity were sustained.

Within this overall number, single-family starts rose 4.1% to a seasonally adjusted annual rate of 981,000 units. This is the highest rate since February 2025. The multifamily sector, which includes apartment buildings and condos, increased 11.3% to a 423,000-unit pace.

Looking at regional housing starts for 2025, combined single-family and multifamily starts were 8.7% higher in the Northeast, 7.2% higher in the Midwest, 4.0% lower in the South, and 0.8% lower in the West.

Overall permits rose 4.3% to a 1.45 million annualized rate in December but were down 2.2% compared with December 2024. Single-family permits declined 1.7% to an 881,000-unit rate and were 10.9% lower than a year earlier. Multifamily permits increased 15.2% to a 567,000-unit pace.

Total permits for 2025 were 1.43 million, a 3.6% decline from the 1.48 million total in 2024. Single-family permits in 2025 totaled 909,600, down 7.4% from the previous year.

Looking at regional permit data for 2025, total permits were 7.7% lower in the Northeast, 3.0% higher in the Midwest, 5.2% lower in the South, and 1.9% lower in the West.

The total number of housing units under construction stood at 1.3 million in December, down 10.5% from a year earlier. Single-family homes under construction fell to 587,000 units, an 8.4% year-over-year decline and the lowest level since November 2020. Multifamily units under construction declined to 690,000, down 12.2% from a year earlier and well below the peak of more than 1 million units reached in December 2023.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Single-Family Starts Edge Higher but Affordability Challenges Persist

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Single-family housing starts posted a modest gain in July as builders continue to contend with challenging housing affordability conditions and a host of supply-side headwinds, including labor shortages, elevated construction costs and inefficient regulatory costs.

Led by solid multifamily production, overall housing starts increased 5.2% in July to a seasonally adjusted annual rate of 1.43 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The July reading of 1.43 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 2.8% to a 939,000 seasonally adjusted annual rate and are down 4.2% on a year-to-date basis. The multifamily sector, which includes apartment buildings and condos, increased 9.9% to an annualized 489,000 pace.

The slowdown in single-family home building has narrowed the home building pipeline. There are currently 621,000 single-family homes under construction, down 1% in July and 3.7% lower than a year ago. This is the lowest level since early 2021 as builders pull back on supply.

On a regional and year-to-date basis, combined single-family and multifamily starts were 10.2% higher in the Northeast, 17.7% higher in the Midwest, 2.4% lower in the South and 0.5% lower in the West.

Overall permits decreased 2.8% to a 1.35-million-unit annualized rate in July. Single-family permits increased 0.5% to an 870,000-unit rate and are down 5.8% on a year-to-date basis. Multifamily permits decreased 8.2% to a 484,000 pace.

Looking at regional permit data on a year-to-date basis, permits were 16.6% lower in the Northeast, 9.1% higher in the Midwest, 3.4% lower in the South and 5.1% lower in the West.

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Single-Family Starts Weaken in June as Affordability Challenges Persist

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Single-family housing starts declined in June to the lowest rate since July 2024 as elevated interest rates, rising inventories and ongoing supply-side issues continue to act as headwinds for the housing sector.

Due to a solid increase in multifamily production, overall housing starts increased 4.6% in June to a seasonally adjusted annual rate of 1.32 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The June reading of 1.32 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts decreased 4.6% to an 883,000 seasonally adjusted annual rate and are down 10% compared to June 2024. The multifamily sector, which includes apartment buildings and condos, increased 30% to an annualized 438,000 pace.

Single-family building conditions continued to weaken in June as housing affordability challenges caused builder traffic to move lower as buyers moved to the sidelines. Rising levels of resale inventory are also a headwind for the industry.

Single-family home building in the South is down 12.4% on a year-to-date basis, far outpacing declines in the Northeast and the West. However, single-family home building is up 10% on a year-to-date basis in the Midwest, where housing affordability conditions are generally better than much of the nation.

On a regional and year-to-date basis, combined single-family and multifamily starts were 28.8% higher in the Northeast, 13.1% higher in the Midwest, 8.1% lower in the South and 0.6% lower in the West.

Overall permits increased 0.2% to a 1.40-million-unit annualized rate in June. Single-family permits decreased 3.7% to an 866,000-unit rate and are down 8.4% compared to June 2024. Multifamily permits increased 7.3% to a 531,000 pace.

Looking at regional permit data on a year-to-date basis, permits were 16.9% lower in the Northeast, 8.2% higher in the Midwest, 3.3% lower in the South and 3.7% lower in the West.

The declines for single-family home building have caused the number of single-family homes under construction to level off. There are currently 622,000 single-family homes under construction, which is 6% lower than a year ago. The number of apartments under construction in June, 739,000, is 18.8% lower than a year ago.

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