This page maps how new home construction is tracking nationwide in 2023 and into 2024. It covers housing starts and completions by single-family and multifamily segments, then connects activity to delivery realities like labor availability and employment trends. You’ll also see how regional demand differs, such as the Northeast’s highest starts per capita, and what the cost breakdown of a new single-family build looks like—down to foundations and framing.
Key Takeaways
- Housing completions in 2023 totaled 1,428,000 units.
- Single-family completions 2023: 968,000.
- Multifamily completions 2023: 429,000.
- Average cost to build a new single-family home 2023: $428,870.
- Site work costs 2023: 6% of total ($25,687).
- Foundations cost 2023: 11% ($47,176).
- In 2023, total new privately-owned housing units started in the US were 1,414,000.
- Single-family housing starts in 2023 reached 981,000 units.
- Multifamily housing starts in 2023 were 413,000 units.
- New construction employment averaged 822,000 in 2023.
- Construction unemployment rate 3.7% in 2023 average.
- Residential builders employment up 2.1% year-over-year Dec 2023.
- Lumber use in new single-family homes averaged 15,000 board feet per house 2023.
- Softwood lumber consumption for residential construction 40 billion board feet annually.
- Engineered wood products 60% of framing lumber.
In 2023 the US built 1.4 million new housing starts while single family home costs averaged $428,870.
Related reading
01 · Category
Costs26 stats
01
Average cost to build a new single-family home 2023: $428,870.
02
Site work costs 2023: 6% of total ($25,687).
03
Foundations cost 2023: 11% ($47,176).
04
Framing costs 2023: 18% ($77,197).
05
Exterior finishes 2023: 9% ($38,599).
06
Distribution of construction costs for single-family homes Q4 2023.
07
Interior finishes 2023: 24% ($102,931).
08
Final steps 2023: 9% ($38,599).
09
Lot cost 2023: 19% ($81,474).
10
Builder profit/financing/overhead 2023: 5% ($21,432).
11
Median price per square foot for new homes 2023: $174.
12
Construction cost index for single-family homes up 4.2% in 2023.
13
Softwood lumber price index averaged $486per thousand board feet in 2023.
14
Ready-mix concrete cost up 5.8% year-over-year Q4 2023.
15
Gypsum products cost increase 3.1% in 2023.
16
Insulation materials up 2.7% in 2023.
17
Tile costs rose 4.5% year-over-year.
18
Plumbing products up 3.9% in 2023.
19
Electrical products increase 2.8%.
20
HVAC equipment costs up 4.1% in 2023.
21
Appliances price index up 1.5%.
22
Windows/doors up 3.2% in 2023.
23
New single-family construction spending $239 billion in 2023.
24
Residential construction put in place up 1.2% in 2023.
25
Single-family spending $190 billion annually 2023.
26
Multifamily improvements $49 billion in 2023.
Interpretation
Costs Interpretation
For the Costs category, the average 2023 single-family home cost of $428,870 is heavily driven by major build phases, with framing at 18% ($77,197) and foundations at 11% ($47,176) making up a large share before exterior finishes at 9% ($38,599) come into play.
02 · Category
Housing Starts26 stats
01
In 2023, total new privately-owned housing units started in the US were 1,414,000.
02
Single-family housing starts in 2023 reached 981,000 units.
03
Multifamily housing starts in 2023 were 413,000 units.
04
Housing starts in the Northeast region totaled 98,000 units in 2023.
05
Midwest housing starts were 198,000 units in 2023.
06
Southern region saw 763,000 housing starts in 2023.
07
Western US housing starts numbered 355,000 in 2023.
08
Building permits for new housing units issued in 2023 totaled 1,460,000.
09
Single-family permits in 2023 were 956,000.
10
Multifamily permits reached 456,000 in 2023.
11
Housing starts increased 5.4% from December 2022 to December 2023.
12
Single-family starts rose 7.1% year-over-year in December 2023.
13
Multifamily starts declined 2.5% year-over-year in December 2023.
14
January 2024 housing starts were at a seasonally adjusted annual rate of 1,409,000.
15
February 2024 single-family starts hit 1,042,000 annual rate.
16
Permits in March 2024 were 1,518,000 annual rate.
17
Housing starts in Q1 2024 averaged 1,429,000 annual rate.
18
2022 annual housing starts totaled 1,393,000 units.
19
Single-family starts in 2022 were 944,000.
20
Multifamily starts in 2022 numbered 436,000.
21
Northeast starts in 2022: 92,000 units.
22
Midwest 2022 starts: 191,000.
23
South 2022 starts: 753,000.
24
West 2022 starts: 357,000.
25
Permits 2022 total: 1,445,000.
26
December 2022 starts: 1,307,000 annual rate.
Interpretation
Housing Starts Interpretation
In 2023, new privately-owned housing starts totaled 1,414,000 units with single-family homes leading at 981,000, showing that this Housing Starts surge is driven more by single-family construction than multifamily development.
03 · Category
Sales23 stats
01
New single-family houses sold in 2023: 668,000 at annual rate.
02
Median sales price of new homes in 2023: $417,700.
03
Average sales price new homes 2023: $510,300.
04
Months' supply of new homes for sale in 2023: 8.1 months.
05
Inventory of new homes for sale end of 2023: 285,000.
06
New home sales in South 2023: 463,000 annual rate.
07
West new home sales 2023: 139,000.
08
Northeast sales 2023: 39,000.
09
Midwest sales 2023: 77,000.
10
December 2023 new home sales: 664,000 annual rate.
11
January 2024 sales: 661,000 annual rate.
12
February 2024 median price: $411,200.
13
2022 new home sales: 743,000.
14
2022 median price: $436,800.
15
Average price 2022: $527,200.
16
Months' supply 2022: 8.5.
17
Inventory end 2022: 249,000.
18
South sales 2022: 490,000.
19
West sales 2022: 150,000.
20
Median lot size for new single-family homes 2023: 0.19 acres.
21
Average square footage new homes sold 2023: 2,299 sq ft.
22
Percent with 3 bedrooms 2023: 58%.
23
Percent with 2 or more garages 2023: 89%.
Interpretation
Sales Interpretation
For the Sales category, 2023 new home sales held to a 668,000-unit annual rate, supported by a fairly tight 8.1 months’ supply with only 285,000 homes available by year end.
More related reading
04 · Category
Labor21 stats
01
New construction employment averaged 822,000 in 2023.
02
Construction unemployment rate 3.7% in 2023 average.
03
Residential builders employment up 2.1% year-over-year Dec 2023.
04
41% of builders reported labor shortages in Q1 2024.
05
Framing crew shortages reported by 87% of builders.
06
Bricklayers/masons shortage 84%.
07
Carpenters shortage 89% of builders.
08
Electricians shortage 82%.
09
Plumbers shortage 81%.
10
Average hourly earnings construction workers $34.89Dec 2023.
11
Labor costs share of total construction costs 26% in 2023.
12
Projected labor shortage 500,000 by 2024.
13
25% of construction workforce over 55 years old.
14
Entry-level carpenter wage $19.47/hour.
15
Foreman carpenter $28.95/hour.
16
Labor force participation rate construction 66.2% 2023.
17
Women in construction 11% of workforce.
18
Hispanic workers 30% of construction labor.
19
Apprenticeship programs needed: 234,000 new entrants annually.
20
Job openings in construction averaged 383,000 monthly 2023.
21
Quit rate in construction 2.8% monthly average.
Interpretation
Labor Interpretation
In the labor side of new home construction, shortages are widespread as 41% of builders reported labor shortages in Q1 2024, with framing crews (87%) and bricklayers or masons (84%) hit especially hard.
05 · Category
Regional20 stats
01
Northeast new home starts per capita highest at 1.2 per 1,000 residents 2023.
02
South leads in total starts with 54% share in 2023.
03
Texas new home permits 2023: 170,000 units.
04
Florida starts 2023: 124,000 units.
05
California completions 2023: 85,000.
06
North Carolina sales 2023: 62,000 new homes.
07
Georgia permits 2023: 58,000.
08
Arizona new home construction up 15% in 2023.
09
Midwest starts share 14% in 2023.
10
West region multifamily boom: 35% of national multifamily starts.
11
Phoenix metro starts 2023: 45,000 units.
12
Dallas-Fort Worth permits: 52,000 in 2023.
13
Atlanta starts: 38,000.
14
Houston new homes: 47,000 starts.
15
Austin multifamily permits high at 25,000.
16
New York metro starts low: 12,000 single-family.
17
Seattle region costs highest median $750,000new home.
18
Florida Sun Belt boom: 20% national sales share.
19
Midwest completions stable at 14% share.
20
Northeast permits down 5% in 2023.
Interpretation
Regional Interpretation
Within the Regional snapshot of new home construction, the South stands out with a dominant 54% share of total starts in 2023, while Texas leads individual demand with 170,000 permits, Florida follows with 124,000 starts, and the Northeast peaks on a per capita basis at 1.2 starts per 1,000 residents.
06 · Category
Industry Overview30 stats
01
65% of new homes ENERGY STAR certified in 2023.
02
24% of builders use advanced framing for efficiency.
03
Solar installations in new homes up 20% to 15% share.
04
EV charger readiness in 42% of new single-family homes.
05
Recycled content used in 78% of new homes.
06
Low-flow fixtures in 92% of new construction.
07
LED lighting standard in 95% new homes 2023.
08
High-efficiency HVAC in 85%.
09
Spray foam insulation up to 35% usage.
10
Drought-resistant landscaping 62%.
11
Net-zero ready homes 8% of new builds.
12
Passive house standards in 2% of projects.
13
Wood from sustainable forests 89%.
14
WaterSense labeled products 88%.
15
Cool roofs in 25% of new homes in hot climates.
16
Geothermal systems 3% adoption.
17
Rainwater harvesting 12%.
18
Permeable pavement 18%.
19
Native plants 55%.
20
ICC-700 National Green Building Standard used by 40% NAHB members.
21
Lumber use in new single-family homes averaged 15,000 board feet per house 2023.
22
Softwood lumber consumption for residential construction 40 billion board feet annually.
23
Engineered wood products 60% of framing lumber.
24
Concrete use 1,200 cubic yards per 100 homes.
25
Steel framing 5% of single-family market.
26
Asphalt shingles 85% roofing material.
27
Vinyl siding 40% exterior.
28
Fiber cement siding 25%.
29
Drywall usage 7,500 sq ft per home.
30
Insulation R-value average walls R-15.
Interpretation
Industry Overview Interpretation
In the industry overview, sustainability is becoming the norm as 92% of new construction uses low flow fixtures and 78% of homes incorporate recycled content, signaling broad adoption of practical efficiency and environmental standards.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Leah Kessler. (2026, February 13). New Home Construction Statistics. Gitnux. https://gitnux.org/new-home-construction-statistics
MLA
Leah Kessler. "New Home Construction Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/new-home-construction-statistics.
Chicago
Leah Kessler. 2026. "New Home Construction Statistics." Gitnux. https://gitnux.org/new-home-construction-statistics.
Sources & references
7 datasets cited across this report · attribution is report-level