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1.51 million Total Housing Completions in 2022 including Manufactured Homes; Most Since 2007

by Calculated Risk on 1/23/2023 09:36:00 AM

Today, in the CalculatedRisk Real Estate Newsletter: 1.51 million Total Housing Completions in 2022 including Manufactured Homes; Most Since 2007

Excerpt:

Although total housing starts decreased 3.0% in 2022 compared to 2021, completions increased year-over-year. Construction delays impacted completions in 2022, and that left a record number of housing units under construction. However, there still were 1.507 million total completions and placements in 2021, the most since 2007.

Not counting Manufactured homes, there are 1.392 million completions in 2022, up from 1.341 million in 2021, and also the most since 2007.

This graph shows total housing completions and placements since 1968 through 2022. Note that the net addition to the housing stock is less because of demolitions and destruction of older housing units. The housing start report last week indicated 1,021.9 thousand single family completions in 2022, 10.0 thousand in 2-to-4 units, and 360.4 thousand in 5+ units.

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