Construction Analytics
FRED Construction Data • Housing Starts, Permits & Building Activity
🏗️↑ 5.8%
1.42M
Housing Starts
Annual Rate (SAAR)
📋↑ 3.2%
1.51M
Building Permits
Annual Rate (SAAR)
🏠↓ 2.1%
1.38M
Completions
Annual Rate (SAAR)
🔨↑ 1.5%
1.67M
Under Construction
Total Units
💰↑ 7.2%
$2.15T
Construction Spending
Annual Rate
🏡↑ 4.5%
683K
New Home Sales
Annual Rate (SAAR)
Housing Starts
Monthly starts by housing type (thousands, SAAR)
Single Family
Multi Family
1,012K
Single Family
408K
Multi Family
1,420K
Total Starts
Building Permits
Monthly permits issued (thousands, SAAR)
1.51M
↑ 3.2% YoY
Permits by Structure Type
Single Family
985K
65.2%
2-4 Units
68K
4.5%
5+ Units
457K
30.3%
Construction Spending
Monthly spending by sector ($B, SAAR)
Residential
Non-Residential
New Single Family
$425B+8.5%
New Multi Family
$145B+5.2%
Residential Improvements
$388B+6.8%
Non-Residential
$685B+7.5%
New Home Sales
Monthly new home sales (thousands, SAAR)
683K
↑ 4.5% YoY
7.8
Months Supply
↓ 0.3%
481K
For Sale Inventory
↑ 2.5%
$450K
Median Sale Price
↑ 5.9%
$525K
Avg Sale Price
↑ 8.2%
Construction Material Costs
Producer Price Index & commodity prices for key building materials
Lumber
$475
↑ 6.8% YoY
Steel
$158
↑ 2.1% YoY
Cement
182
↑ 2.5% YoY
Copper
$4.52
↑ 8.9% YoY
Gypsum
126
↑ 3.2% YoY
Construction Employment
Employment levels and labor market indicators (thousands)
8.43M
↑ 3.7% YoY
Residential (3.65M)
Non-Residential (2.25M)
Specialty Trade (2.54M)
Job Openings (K)
Avg Hourly Wage by Sector
Residential
$32.45+4.2%
Non-Residential
$35.85+3.8%
Specialty Trade
$34.25+4.5%
Heavy/Civil
$36.95+3.5%
Construction Pipeline
Current status & timelines
📋
Permits Issued1.51M
SAAR
🔨
Under Construction1.67M
Total Units
✅
Completed1.38M
SAAR
Avg Build Timeline (Days)
Permitting
45
-5
Foundation
21
0
Framing
35
+3
Systems Install
42
+2
Finishing
38
-2
Inspection
14
+1
Total: ~195 days avg
Completion Rates
Single Family
92.5%7.2 mo
Multi Family
88.2%18.5 mo
Townhomes
94.1%6.8 mo
Regional Construction Activity
Housing starts and permits by Census region (thousands, SAAR)
Share by Region
South+8.2%
West+2.5%
Midwest+5.8%
Northeast+3.2%
Top 10 States (Starts)
1Texas225K+12.5%
2Florida185K+8.8%
3California115K-2.5%
4North Carolina85K+9.2%
5Georgia75K+7.5%
6Arizona65K+4.2%
7Tennessee55K+6.8%
8Colorado45K+1.5%
9Washington42K+3.2%
10Virginia38K+5.5%
South
Starts
625K
Permits
685K
Completions
585K
Under Const.
725K
↑ 8.2% YoY change
West
Starts
335K
Permits
365K
Completions
315K
Under Const.
385K
↑ 2.5% YoY change
Midwest
Starts
245K
Permits
265K
Completions
235K
Under Const.
285K
↑ 5.8% YoY change
Northeast
Starts
215K
Permits
235K
Completions
205K
Under Const.
275K
↑ 3.2% YoY change