US Housing Starts to Reach 1.6 Million Units in 2021

Strengthening Consumer Finances and Household Creation to Boost Construction

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Aug 08, 2017, 09:14 ET

CLEVELAND, Aug. 8, 2017 /PRNewswire/ -- US housing starts are forecast to total 1.6 million units in 2021, according to Housing: United States, a report recently released by Freedonia Focus Reports. Single-unit conventional housing starts, representing both the largest and fastest growing segment, will benefit from rising household creation and an improving economy, amidst the preference of many consumers for detached homes and other single-unit types.

Demand for single-unit housing will be restrained by other housing options, such as manufactured housing, a lower-cost substitute, and the availability of multiple-unit options such as condominiums. Additionally, many young people in urban areas want to live in or near downtown, where space is unlikely to exist for new single-unit housing developments.

These and other key insights are featured in Housing: United States. This report forecasts US housing starts and the housing stock in units, and average floor space per new and existing units in square feet to 2021. Each measure is segmented by housing type in terms of:

single-unit conventional
multiple-unit conventional
manufactured

In addition, housing starts and the housing stock, as well as existing home sales, are segmented by region as follows: South, Midwest, West, Northeast. Furthermore, spending on residential building construction in US dollars is forecast to 2021 and is segmented by type as follows: single-unit, multiple-unit, and improvements.

To illustrate historical trends, housing starts, the housing stock, existing home sales, average floor space, residential building construction expenditures, the median price of new single-unit conventional homes, interest rates, and the various segments are provided in annual series from 2006 to 2016.

More information about the report is available at
https://www.freedoniafocusreports.com/Housing-United-States-FF60024/

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Building Products reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including: