Despite a drop in the number of new-home starts in 2024, more than 1.7 million homes were completed—the most completions year-over-year since 2006
Jan. 21, 2025
Image: Jaskaran Kooner / stock.adobe.com
New-home completions rose throughout 2024 to more than 1.7 million.
Although housing starts decreased during 2024, the number of new homes that were completed increased over the course of the year. According to the Calculated Risk blog, total completions increased by 12.5% year-over-year to 1.73 million. At the same time, however, starts were down by 3.9%. Not including manufactured homes, there were 1.63 million new-home completions in 2024, which is still up by 12.4% from 2023’s 1.45 million, and also the most homes completed since 2006.
The housing start report last week indicated 1,020.4 thousand single family completions in 2024, up 2.2% from 998.8 thousand in 2023. There were 16.8 thousand completions of 2-to-4 units, and 590.6 thousand completions of 5+ units, up 35% from 2023, and the most since 1974!Read more
