1.51 million gross residential completions in 2022 including manufactured homes; Mostly since 2007

by calculated risks 1/23/2020 09:36:00 AM

Today, in CalculatedRisk’s real estate newsletter: 1.51 Million Total Residential Buildings in 2022 including Manufactured Homes; Mostly since 2007

Excerpts:

Although total starter housing decreased by 3.0% in 2022 compared to 2021, housing completions increased year-on-year. Construction delays affected completions in 2022, leaving a record number of residential units under construction. However, there were still 1.507 million total completions and placements in 2021, the most since 2007.

Excluding manufactured homes, there are 1.392 million completions in 2022, up from 1.341 million in 2021, and also the most since 2007.

This graph shows total housing completions and assignments from 1968 through 2022. Note that the net addition to the housing stock is lower due to demolitions and destruction of older housing units. Last week’s housing starts report indicated 1,021.9k single-family completions in 2022, 10.0k in 2-to-4 units, and 360.4k in over 5 units.

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