The trend over time.
The latest available read: Housing Starts is at 1.22M as of September 2026. Source: FRED · HOUST. CSV and PNG downloads cover the selected date range.
What Housing Starts measures.
The number of new privately owned housing units on which construction began, at a seasonally adjusted annual rate, from the Census Bureau. It includes single-family homes and apartment buildings.
Starts lead completions and construction employment, and they react quickly to mortgage rates and builder confidence. The series is volatile month to month, particularly the multifamily part, so look at the trend rather than one reading.
Why it matters.
Housing starts signal whether builders are confident enough to invest in new construction, which affects job creation, lumber prices, and mortgage demand. When starts fall, it can foreshadow softer employment and higher housing costs down the line.
Where it fits.
Housing Starts is covered on the Housing page.