Single-family starts expanded at a fast pace in 2021
Washington, DC – New single-family home will begin in 2021 and grew at the fastest rate since 2013, according to the Survey of Construction’s NAHB analysis. The 2021 single-family home start rate of 1.13 million units was 14% higher than in 2020 and the highest total since the Great Recession.
Of all nine census divisions, the South Atlantic, West South Central and Mountain Divisions led the way, with most new single-family units starting in 2021. These three divisions represent 20 states and Washington, DC, and they accounted for more than two-thirds of total new single-family homes starting in 2021.
In addition, the number of single-family homes started in the Pacific Division rose to 106,240 in 2021, more than 100,000 for the second year in a row since the 2008 recession. There were 93,693 new single-family homes started in the East North Central Division in 2021. While the Pacific Division accounted for 9% of total new single-family homes, the East North Central Division accounted for 8%.
The other four divisions, including East South Central, West North Central, Middle Atlantic and New England, accounted for the remaining 16% of the total new single-family homes.
In 2021, four of the nine divisions grew faster than the national level of 14%. The Middle Atlantic Division led the way with a 26% increase, followed by the East South Central Division with a 23% growth rate and the West South Central Division, which grew 19%. The growth rates of the other five divisions were close to or below the national level.
For additional analysis by Jing Fu, NAHB director of forecasting and analysis, visit this: Eye on Housing blog post.