【World Property Journal】2021 Posts Double-Digit Percentage Gain of Single-Family Starts in U.S.

According to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, while single-family starts dipped in December 2021 due to ongoing supply-side challenges, they still managed to post double-digit gains in 2021. Overall housing starts increased 1.4% in December to a seasonally adjusted annual rate of 1.70 million units.

The December reading of 1.70 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts decreased 2.3% to a 1.17 million seasonally adjusted annual rate. The multifamily sector, which includes apartment buildings and condos, increased 10.6% to a 530,000 pace.

Total housing starts for 2021 were 1.60 million, a 15.6% gain over the 1.38 million total from 2020. Single-family starts in 2021 totaled 1.12 million, up 13.4% from the previous year. Multifamily starts (5+) in 2021 were up 22.1% compared to the previous year.

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