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HousingHigher is better
Housing Starts
Number of new privately-owned housing units started. Leading indicator for construction activity and housing supply.
Source: FRED
Latest reading
1.5K+67.0 vs last year
April 20261.5K
400.01.0K1.7K2.5K
About this range
900K–1,700K starts per month reflects construction activity sufficient to keep pace with household formation and replace aging stock. Below 900K signals chronic underbuilding that worsens affordability; above 1,700K has historically preceded oversupply corrections.
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