New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More
UNDCON5MUSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
720.00
Year-over-Year Change
-19.55%
Date Range
1/1/1970 - 6/1/2025
Summary
This economic trend tracks the number of new privately-owned housing units under construction in buildings with 5 or more units. It serves as an important indicator of residential construction activity and investment.
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 'New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More' metric measures the level of multi-family housing development in the United States. It is a key signal of broader real estate and construction industry trends.
Methodology
The data is collected through surveys of U.S. housing construction firms by the U.S. Census Bureau.
Historical Context
This metric informs analysts and policymakers about the health of the residential real estate market and helps guide decisions around housing and infrastructure policy.
Key Facts
- Reached a low of 57,000 units under construction in 2009 during the Great Recession.
- Peaked at 495,000 units under construction in 2022 as the housing market boomed.
- Has averaged around 300,000 units under construction per month over the last decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of new privately-owned multi-family housing units under construction in the United States.
Q: Why is this trend relevant for users or analysts?
A: It serves as an important indicator of residential construction activity, real estate investment, and the overall health of the housing market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. housing construction firms by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to gauge the strength of the housing sector and guide decisions around housing and infrastructure policy.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Census Bureau with a lag of around 1-2 months.
Related Trends
Citation
U.S. Federal Reserve, New Privately-Owned Housing Units Under Construction: Units in Buildings with 5 Units or More (UNDCON5MUSA), retrieved from FRED.