MarketXLS

Housing Units Under Construction

1.264M for Jun 2026

Housing Units Under Construction came in at 1.264M for Jun 2026, down 0.16% from 1.266M the prior month and 6.23% below its level of 1.348M one year ago. The series has averaged 1.018M since 1970, reaching a record high of 1.714M in October 2022 and a record low of 414 in August 2011.

Source: Federal Reserve Economic Data (FRED), St. Louis Fed

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Cite this data: "Housing Units Under Construction," MarketXLS. Data from Federal Reserve Economic Data (FRED), St. Louis Fed. marketxls.com/indicators/housing-under-construction

Historical Data

Observation dateValue
June 1, 20261.264M
May 1, 20261.266M
April 1, 20261.268M
March 1, 20261.262M
February 1, 20261.27M
January 1, 20261.27M
December 1, 20251.281M
November 1, 20251.301M
October 1, 20251.312M
September 1, 20251.323M
August 1, 20251.313M
July 1, 20251.342M
June 1, 20251.348M
May 1, 20251.363M
April 1, 20251.394M
March 1, 20251.4M
February 1, 20251.409M
January 1, 20251.407M
December 1, 20241.43M
November 1, 20241.436M
October 1, 20241.464M
September 1, 20241.489M
August 1, 20241.52M
July 1, 20241.549M
June 1, 20241.571M
May 1, 20241.591M
April 1, 20241.609M
March 1, 20241.639M
February 1, 20241.658M
January 1, 20241.67M
December 1, 20231.681M
November 1, 20231.691M
October 1, 20231.682M
September 1, 20231.681M
August 1, 20231.695M
July 1, 20231.7M
June 1, 20231.691M
May 1, 20231.69M
April 1, 20231.68M
March 1, 20231.678M
February 1, 20231.683M
January 1, 20231.691M
December 1, 20221.694M
November 1, 20221.7M
October 1, 20221.714M
September 1, 20221.704M
August 1, 20221.7M
July 1, 20221.683M
June 1, 20221.687M
May 1, 20221.681M
April 1, 20221.668M
March 1, 20221.629M
February 1, 20221.58M
January 1, 20221.547M
December 1, 20211.524M
November 1, 20211.495M
October 1, 20211.466M
September 1, 20211.441M
August 1, 20211.413M
July 1, 20211.387M
June 1, 20211.372M
May 1, 20211.339M
April 1, 20211.321M
March 1, 20211.304M
February 1, 20211.285M
January 1, 20211.278M
December 1, 20201.259M
November 1, 20201.249M
October 1, 20201.229M
September 1, 20201.221M
August 1, 20201.216M
July 1, 20201.204M
June 1, 20201.184M
May 1, 20201.178M
April 1, 20201.194M
March 1, 20201.213M
February 1, 20201.214M
January 1, 20201.192M
December 1, 20191.177M
November 1, 20191.166M
October 1, 20191.159M
September 1, 20191.162M
August 1, 20191.149M
July 1, 20191.146M
June 1, 20191.143M
May 1, 20191.132M
April 1, 20191.124M
March 1, 20191.125M
February 1, 20191.14M
January 1, 20191.15M
December 1, 20181.148M
November 1, 20181.144M
October 1, 20181.141M
September 1, 20181.135M
August 1, 20181.129M
July 1, 20181.127M
June 1, 20181.126M
May 1, 20181.131M
April 1, 20181.124M
March 1, 20181.121M
February 1, 20181.109M
January 1, 20181.105M
December 1, 20171.1M
November 1, 20171.107M
October 1, 20171.101M
September 1, 20171.093M
August 1, 20171.083M
July 1, 20171.075M
June 1, 20171.073M
May 1, 20171.071M
April 1, 20171.075M
March 1, 20171.071M
February 1, 20171.07M
January 1, 20171.063M
December 1, 20161.057M
November 1, 20161.042M
October 1, 20161.053M
September 1, 20161.038M
August 1, 20161.038M
July 1, 20161.033M
June 1, 20161.016M
May 1, 20161.01M
April 1, 2016998
March 1, 2016987
February 1, 2016982
January 1, 2016968
December 1, 2015970
November 1, 2015962
October 1, 2015943
September 1, 2015939
August 1, 2015921
July 1, 2015908
June 1, 2015896
May 1, 2015878
April 1, 2015868
March 1, 2015843
February 1, 2015830
January 1, 2015830
December 1, 2014826
November 1, 2014814
October 1, 2014806
September 1, 2014797
August 1, 2014793
July 1, 2014790
June 1, 2014771
May 1, 2014754
April 1, 2014743
March 1, 2014726
February 1, 2014714
January 1, 2014713
December 1, 2013707
November 1, 2013687
October 1, 2013670
September 1, 2013661
August 1, 2013654
July 1, 2013640
June 1, 2013629
May 1, 2013620
April 1, 2013606
March 1, 2013596
February 1, 2013581
January 1, 2013559
December 1, 2012551
November 1, 2012534
October 1, 2012520
September 1, 2012511
August 1, 2012495
July 1, 2012490
June 1, 2012486
May 1, 2012474
April 1, 2012463
March 1, 2012458
February 1, 2012450
January 1, 2012441
December 1, 2011434
November 1, 2011433
October 1, 2011422
September 1, 2011417
August 1, 2011414
July 1, 2011417
June 1, 2011416
May 1, 2011415
April 1, 2011417
March 1, 2011420
February 1, 2011424
January 1, 2011431
December 1, 2010427
November 1, 2010431
October 1, 2010436
September 1, 2010439
August 1, 2010444
July 1, 2010443
June 1, 2010447
May 1, 2010476
April 1, 2010488
March 1, 2010492
February 1, 2010493
January 1, 2010501
December 1, 2009517
November 1, 2009532
October 1, 2009554
September 1, 2009576
August 1, 2009588
July 1, 2009611
June 1, 2009627
May 1, 2009650
April 1, 2009677
March 1, 2009717
February 1, 2009756
January 1, 2009783
December 1, 2008806
November 1, 2008842
October 1, 2008876
September 1, 2008904
August 1, 2008936
July 1, 2008955
June 1, 2008975
May 1, 2008991
April 1, 20081.009M
March 1, 20081.014M
February 1, 20081.025M
January 1, 20081.041M
December 1, 20071.059M
November 1, 20071.08M
October 1, 20071.096M
September 1, 20071.108M
August 1, 20071.123M
July 1, 20071.144M
June 1, 20071.161M
May 1, 20071.164M
April 1, 20071.181M
March 1, 20071.192M
February 1, 20071.206M
January 1, 20071.217M
December 1, 20061.247M
November 1, 20061.265M
October 1, 20061.283M
September 1, 20061.317M
August 1, 20061.339M
July 1, 20061.363M
June 1, 20061.383M
May 1, 20061.409M
April 1, 20061.401M
March 1, 20061.423M
February 1, 20061.423M
January 1, 20061.424M
December 1, 20051.405M
November 1, 20051.395M
October 1, 20051.376M
September 1, 20051.377M
August 1, 20051.356M
July 1, 20051.338M
June 1, 20051.329M
May 1, 20051.322M
April 1, 20051.324M
March 1, 20051.311M
February 1, 20051.322M
January 1, 20051.302M
December 1, 20041.28M
November 1, 20041.268M
October 1, 20041.264M
September 1, 20041.247M
August 1, 20041.238M
July 1, 20041.247M
June 1, 20041.229M
May 1, 20041.233M
April 1, 20041.222M
March 1, 20041.219M
February 1, 20041.197M
January 1, 20041.191M
December 1, 20031.183M
November 1, 20031.158M
October 1, 20031.135M
September 1, 20031.121M
August 1, 20031.102M
July 1, 20031.078M
June 1, 20031.064M
May 1, 20031.047M
April 1, 20031.043M
March 1, 20031.044M
February 1, 20031.044M
January 1, 20031.049M
December 1, 20021.033M
November 1, 20021.031M
October 1, 20021.026M
September 1, 20021.024M
August 1, 20021.013M
July 1, 20021.029M
June 1, 20021.023M
May 1, 20021.019M
April 1, 20021.011M
March 1, 20021.013M
February 1, 20021.005M
January 1, 2002996
December 1, 2001996
November 1, 20011.011M
October 1, 20011.008M
September 1, 20011.014M
August 1, 20011.011M
July 1, 20011.017M
June 1, 20011.013M
May 1, 20011.015M
April 1, 20011.007M
March 1, 20011.001M
February 1, 2001987
January 1, 2001986
December 1, 2000969
November 1, 2000970
October 1, 2000972
September 1, 2000970
August 1, 2000976
July 1, 2000979
June 1, 2000982
May 1, 2000985
April 1, 2000989
March 1, 2000988
February 1, 2000998
January 1, 2000991
December 1, 1999983
November 1, 1999983
October 1, 1999983
September 1, 1999983
August 1, 1999989
July 1, 1999983
June 1, 1999981
May 1, 1999989
April 1, 1999991
March 1, 1999994
February 1, 1999989
January 1, 1999973
December 1, 19981.003M
November 1, 1998976
October 1, 1998972
September 1, 1998952
August 1, 1998941
July 1, 1998938
June 1, 1998927
May 1, 1998912
April 1, 1998906
March 1, 1998905
February 1, 1998896
January 1, 1998886
December 1, 1997872
November 1, 1997865
October 1, 1997858
September 1, 1997846
August 1, 1997836
July 1, 1997836
June 1, 1997826
May 1, 1997816
April 1, 1997810
March 1, 1997808
February 1, 1997810
January 1, 1997817
December 1, 1996814
November 1, 1996829
October 1, 1996821
September 1, 1996824
August 1, 1996820
July 1, 1996824
June 1, 1996826
May 1, 1996832
April 1, 1996827
March 1, 1996814
February 1, 1996793
January 1, 1996803
December 1, 1995799
November 1, 1995786
October 1, 1995781
September 1, 1995780
August 1, 1995774
July 1, 1995762
June 1, 1995759
May 1, 1995758
April 1, 1995761
March 1, 1995771
February 1, 1995793
January 1, 1995783
December 1, 1994784
November 1, 1994785
October 1, 1994775
September 1, 1994774
August 1, 1994773
July 1, 1994764
June 1, 1994757
May 1, 1994749
April 1, 1994740
March 1, 1994732
February 1, 1994716
January 1, 1994709
December 1, 1993703
November 1, 1993695
October 1, 1993687
September 1, 1993677
August 1, 1993665
July 1, 1993663
June 1, 1993654
May 1, 1993648
April 1, 1993636
March 1, 1993633
February 1, 1993640
January 1, 1993636
December 1, 1992638
November 1, 1992641
October 1, 1992643
September 1, 1992638
August 1, 1992635
July 1, 1992629
June 1, 1992644
May 1, 1992650
April 1, 1992650
March 1, 1992656
February 1, 1992630
January 1, 1992639
December 1, 1991633
November 1, 1991636
October 1, 1991630
September 1, 1991633
August 1, 1991651
July 1, 1991652
June 1, 1991654
May 1, 1991662
April 1, 1991670
March 1, 1991678
February 1, 1991710
January 1, 1991716
December 1, 1990745
November 1, 1990758
October 1, 1990766
September 1, 1990793
August 1, 1990813
July 1, 1990831
June 1, 1990846
May 1, 1990858
April 1, 1990872
March 1, 1990885
February 1, 1990898
January 1, 1990891
December 1, 1989885
November 1, 1989882
October 1, 1989897
September 1, 1989895
August 1, 1989901
July 1, 1989918
June 1, 1989913
May 1, 1989913
April 1, 1989922
March 1, 1989940
February 1, 1989947
January 1, 1989955
December 1, 1988955
November 1, 1988960
October 1, 1988953
September 1, 1988958
August 1, 1988967
July 1, 1988971
June 1, 1988980
May 1, 1988987
April 1, 1988999
March 1, 1988994
February 1, 1988976
January 1, 19881.008M
December 1, 19871.018M
November 1, 19871.042M
October 1, 19871.041M
September 1, 19871.048M
August 1, 19871.045M
July 1, 19871.051M
June 1, 19871.06M
May 1, 19871.07M
April 1, 19871.079M
March 1, 19871.084M
February 1, 19871.096M
January 1, 19871.09M
December 1, 19861.107M
November 1, 19861.119M
October 1, 19861.136M
September 1, 19861.148M
August 1, 19861.157M
July 1, 19861.151M
June 1, 19861.149M
May 1, 19861.137M
April 1, 19861.135M
March 1, 19861.106M
February 1, 19861.111M
January 1, 19861.1M
December 1, 19851.094M
November 1, 19851.088M
October 1, 19851.085M
September 1, 19851.063M
August 1, 19851.075M
July 1, 19851.07M
June 1, 19851.071M
May 1, 19851.088M
April 1, 19851.085M
March 1, 19851.065M
February 1, 19851.067M
January 1, 19851.074M
December 1, 19841.08M
November 1, 19841.08M
October 1, 19841.081M
September 1, 19841.089M
August 1, 19841.087M
July 1, 19841.098M
June 1, 19841.093M
May 1, 19841.081M
April 1, 19841.086M
March 1, 19841.069M
February 1, 19841.039M
January 1, 19841.04M
December 1, 19831.026M
November 1, 19831.016M
October 1, 1983996
September 1, 1983990
August 1, 1983976
July 1, 1983958
June 1, 1983925
May 1, 1983891
April 1, 1983854
March 1, 1983824
February 1, 1983798
January 1, 1983760
December 1, 1982735
November 1, 1982717
October 1, 1982697
September 1, 1982686
August 1, 1982670
July 1, 1982668
June 1, 1982654
May 1, 1982661
April 1, 1982669
March 1, 1982676
February 1, 1982687
January 1, 1982686
December 1, 1981694
November 1, 1981711
October 1, 1981737
September 1, 1981770
August 1, 1981801
July 1, 1981827
June 1, 1981854
May 1, 1981887
April 1, 1981902
March 1, 1981915
February 1, 1981926
January 1, 1981930
December 1, 1980913
November 1, 1980906
October 1, 1980894
September 1, 1980873
August 1, 1980854
July 1, 1980860
June 1, 1980881
May 1, 1980912
April 1, 1980976
March 1, 19801.044M
February 1, 19801.074M
January 1, 19801.134M
December 1, 19791.157M
November 1, 19791.187M
October 1, 19791.22M
September 1, 19791.233M
August 1, 19791.251M
July 1, 19791.258M
June 1, 19791.265M
May 1, 19791.253M
April 1, 19791.26M
March 1, 19791.288M
February 1, 19791.315M
January 1, 19791.327M
December 1, 19781.344M
November 1, 19781.33M
October 1, 19781.317M
September 1, 19781.31M
August 1, 19781.306M
July 1, 19781.308M
June 1, 19781.308M
May 1, 19781.295M
April 1, 19781.284M
March 1, 19781.259M
February 1, 19781.247M
January 1, 19781.238M
December 1, 19771.234M
November 1, 19771.201M
October 1, 19771.185M
September 1, 19771.154M
August 1, 19771.146M
July 1, 19771.127M
June 1, 19771.1M
May 1, 19771.078M
April 1, 19771.041M
March 1, 19771.009M
February 1, 1977982
January 1, 1977963
December 1, 1976947
November 1, 1976930
October 1, 1976914
September 1, 1976895
August 1, 1976869
July 1, 1976858
June 1, 1976856
May 1, 1976844
April 1, 1976843
March 1, 1976840
February 1, 1976812
January 1, 1976827
December 1, 1975820
November 1, 1975828
October 1, 1975843
September 1, 1975835
August 1, 1975843
July 1, 1975850
June 1, 1975854
May 1, 1975873
April 1, 1975895
March 1, 1975924
February 1, 1975962
January 1, 1975990
December 1, 19741.03M
November 1, 19741.075M
October 1, 19741.129M
September 1, 19741.179M
August 1, 19741.23M
July 1, 19741.276M
June 1, 19741.321M
May 1, 19741.353M
April 1, 19741.39M
March 1, 19741.416M
February 1, 19741.459M
January 1, 19741.465M
December 1, 19731.495M
November 1, 19731.522M
October 1, 19731.54M
September 1, 19731.578M
August 1, 19731.594M
July 1, 19731.606M
June 1, 19731.599M
May 1, 19731.624M
April 1, 19731.619M
March 1, 19731.626M
February 1, 19731.628M
January 1, 19731.607M
December 1, 19721.588M
November 1, 19721.573M
October 1, 19721.542M
September 1, 19721.499M
August 1, 19721.476M
July 1, 19721.449M
June 1, 19721.429M
May 1, 19721.403M
April 1, 19721.384M
March 1, 19721.359M
February 1, 19721.294M
January 1, 19721.316M
December 1, 19711.285M
November 1, 19711.262M
October 1, 19711.224M
September 1, 19711.205M
August 1, 19711.185M
July 1, 19711.16M
June 1, 19711.127M
May 1, 19711.093M
April 1, 19711.062M
March 1, 19711.025M
February 1, 1971994
January 1, 1971971
December 1, 1970943
November 1, 1970914
October 1, 1970900
September 1, 1970890
August 1, 1970874
July 1, 1970891
June 1, 1970882
May 1, 1970883
April 1, 1970891
March 1, 1970890
February 1, 1970888
January 1, 1970889

About Housing Units Under Construction

What it measures

Housing Units Under Construction (FRED series UNDCONTSA) counts the total number of privately owned housing units that have been started but not yet completed, reported monthly at a seasonally adjusted annual rate by the Census Bureau and HUD within the New Residential Construction report. Unlike starts or permits, which measure monthly flows, this series is a stock: the standing pipeline of homes actively being built.

Why it matters

The under-construction pipeline determines near-term housing supply and sustains construction employment even after starts roll over, which is why economists watch it to time when a housing slowdown will hit jobs and completions. A large backlog implies future inventory arriving on the market, relevant for rent forecasts and homebuilder pricing power. It also captures the effect of construction delays, which stretch the pipeline without any change in demand.

How to read it

The stock moves slowly, so direction matters more than monthly wiggles. A rising count alongside falling starts means completion bottlenecks; a falling count signals the pipeline is draining and construction activity will follow starts downward with a lag. Split the single-family and multifamily components, since multifamily projects take far longer to complete and can hold the total elevated well after new activity fades.

Get Housing Units Under Construction in Excel

Pull Housing Units Under Construction directly into your spreadsheet with a single MarketXLS formula - always current, no copy-pasting:

=ResidentialConstruction()

View the Residential Construction formula documentation or browse all 100+ Economic Data functions.

Frequently Asked Questions

What is the current Housing Units Under Construction?

Housing Units Under Construction is 1.264M as of June 2026.

What is the all-time high and low of Housing Units Under Construction?

The highest value on record is 1.714M (October 2022) and the lowest is 414 (August 2011).

How often is Housing Units Under Construction updated?

Housing Units Under Construction is published on a monthly basis, sourced from Federal Reserve Economic Data (FRED).

How do I get Housing Units Under Construction in Excel?

Use the MarketXLS Excel formula =ResidentialConstruction() to pull Housing Units Under Construction directly into any cell, with historical values available for analysis.

Basic info
Residential construction means projects consisting of single family homes and apartments up to and including four (4) stories.
RegionUnited States
FrequencyMonthly
Last updatedJuly 17, 2026
Seasonal adjustmentSeasonally Adjusted
UnitThousands of Units

Stats
Last Value1.264M
Latest PeriodJun 2026
Last UpdatedJuly 17 2026, 07:33
Value Previous Month1.266M
Change From Previous Month-0.16%
Value 1 Year Ago1.348M
Change From Year Ago-6.23%
Average Growth Rate0.63%/yr
Record High (Oct 2022)1.714M
Record Low (Aug 2011)414
Long-Term Average1.018M
FrequencyMonthly
AdjustmentSeasonally Adjusted
UnitThousands of Units

Annual Averages
20261.267M
20251.349M
20241.552M
20231.687M
20221.666M
20211.385M
20201.213M
20191.148M
20181.128M
20171.082M
20161.019M
2015899

Related Indicators
Industrial Production: Total Index
Capacity Utilization: Total Index
Total Business Inventories
Advance Real Retail and Food Services Sales
US Light Vehicle Sales
Durable Goods Orders
Core Capital Goods Orders
Commercial and Industrial Loans
Total Consumer Credit
Corporate Profits After Tax
Housing Starts
Building Permits
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