2023 Economic Review and 2024 Outlook - Starts

Residential
by Staff

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In October, U.S. housing starts reached a non-seasonally adjusted annual rate of 115,400, showing a 0.77% decrease from the revised September estimate. This year starts have decreased by 11.3% compared to the 2022 rate through October with Single-family housing starts falling by 10.6%. All regions have decreased in starts year-to-year, with the Northeast has experiencing the largest decline in 2023 having fallen by 22%. The South decreased by the least of the four regions at a 7.8% drop.