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From Home Furnishing Business

Fast Fact: Housing Starts 31% Below Pre-Recession Levels 

A decade after the Great Recession, housing starts are failing to keep up with demand, according to data from the U.S. Census Bureau’s Department of Housing and Urban Development.

Total housing starts this year are 31% below pre-Great Recession levels – 1,238,000 in 2019 May (seasonally adjusted at annual rate) versus 2006 starts of 1,801,000. Housing starts had a 28.2% jump in 2012 and 18.5% growth in 2013, but the large increases have stalled in recent years before hitting negative growth in the first quarter of 2019. 

The South had the healthiest growth in housing starts, up 6.5% this year with all other regions posting negative growth in both single and multi-family unit starts. The Midwest has the largest drop in housing starts this year – down 11.2%.

For a closer look at the data, click here.

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