1.54 million Total Housing Completions in 2023 including Manufactured Homes; Most Since 2007

Completions Will Likely Increase Further in 2024

Although total housing starts decreased 9.0% in 2023 compared to 2022, completions increased year-over-year. Construction delays impacted completions in 2023, and that left a near record number of housing units under construction. However, there still were 1.543 million total completions and placements in 2023, the most since 2007.

Not counting Manufactured homes, there are 1.453 million completions in 2023, up 4.5% from 1.390 million in 2022, and also the most since 2007.

This graph shows total housing completions and placements since 1968 through 2023. 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 1,002.4 thousand single family completions in 2023, 11.5 thousand in 2-to-4 units, and 438.6 thousand in 5+ units (up 22% from 2022, and the most since 1987).