This page tracks the historical trend of U.S. housing starts, which measure the number of new privately-owned residential construction projects that have begun during a given period. It’s a key indicator of housing supply, builder confidence, and overall economic momentum.
What This Chart Shows
- Housing starts rise during economic expansions and fall during recessions
- Major declines occurred during the 1981–1982 recession, 2008 housing crash, and 2020 pandemic
- Surges often follow periods of low interest rates and strong demand
- The chart reflects both builder confidence and financing conditions
Key Takeaways
- Housing starts are a leading indicator of construction activity and economic growth
- High levels signal optimism and expansion in the housing sector
- Low levels may reflect tightening credit, falling demand, or recession risk
- This chart complements the Housing Market Index by showing actual building activity
Data Source
U.S. Census Bureau via FRED®