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Single-Family Housing Starts Soar Amid Multifamily Decline

1/18/2025

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Summary

Story summary

In 2024, single-family housing starts surged by 6.5% to 1.01 million, the highest level since 2007. In contrast, multifamily starts plummeted by 25% to 354,800 units, reflecting a staggering 35% drop from 2022. However, small multifamily buildings (2-5 units) thrived with a 36% increase, signaling a notable shift during the ongoing Commercial Real Estate downturn in the U.S.

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Story summary

In 2024, single-family housing starts surged by 6.5% to 1.01 million, the highest level since 2007. In contrast, multifamily starts plummeted by 25% to 354,800 units, reflecting a staggering 35% drop from 2022. However, small multifamily buildings (2-5 units) thrived with a 36% increase, signaling a notable shift during the ongoing Commercial Real Estate downturn in the U.S.