New Privately-Owned Housing Units Started: Units in Buildings with 5 Units or More
Not Seasonally Adjusted
HOUST5FNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.70
Year-over-Year Change
27.43%
Date Range
8/1/1963 - 6/1/2025
Summary
The 'Not Seasonally Adjusted' metric tracks monthly new privately-owned housing units started without seasonal adjustments. This metric provides unfiltered insight into underlying housing construction trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Not Seasonally Adjusted' housing starts series measures the monthly count of new privately-owned residential construction projects. It offers a raw, unmodified view of housing activity, in contrast to seasonally adjusted data which smoothes out typical seasonal patterns.
Methodology
The U.S. Census Bureau surveys a sample of permit-issuing offices to collect and tabulate this housing starts data.
Historical Context
Economists and policymakers use this unadjusted metric to better understand the natural swings in housing construction throughout the year.
Key Facts
- Housing starts can vary significantly by season.
- Unadjusted data captures the full magnitude of monthly changes.
- Comparing adjusted and unadjusted data reveals seasonal patterns.
FAQs
Q: What does this economic trend measure?
A: The 'Not Seasonally Adjusted' metric tracks the monthly count of new privately-owned housing units started, without applying seasonal adjustments.
Q: Why is this trend relevant for users or analysts?
A: The unadjusted housing starts data provides a raw, unfiltered view of underlying construction activity, which is valuable for understanding natural seasonal trends and market conditions.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau surveys a sample of permit-issuing offices to collect and tabulate the housing starts data.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this unadjusted metric to better understand the natural swings in housing construction throughout the year, which informs broader economic assessments and policy decisions.
Q: Are there update delays or limitations?
A: The housing starts data is subject to revisions and may have a one-month reporting lag, so the most recent figures may not fully reflect the current state of the housing market.
Related Trends
New Privately Owned Housing Starts in the United States by Design Type, Attached One-Family Units
HOUSTDTA1FQ
New Privately-Owned Housing Units Started: Total Units
HOUST
New Privately Owned Housing Starts in the United States by Purpose of Construction, Built for Sale Two or More Units
HOUSTPFST2UMQ
New Privately Owned Housing Starts in the United States by Purpose of Construction, Built for Sale Fee Simple One-Family Units
HOUSTPFS1FQ
New Privately-Owned Housing Units Started: Units in Buildings with 2-4 Units
HOUST2F
New Privately Owned Housing Starts in the United States by Number of Units in Building, 20 or More Units
HOUSTDTA20UMQ
Citation
U.S. Federal Reserve, Not Seasonally Adjusted (HOUST5FNSA), retrieved from FRED.