1.73 million Total Housing Completions in 2024 including Manufactured Homes; Most Since 2006

Most multi-family completions since 1974!

Although total housing starts decreased 3.9% in 2024 compared to 2023, completions increased sharply year-over-year. There were 1.731 million total completions and placements in 2024, up 12.5% compared to 2023, and the most since 2006.

Not counting Manufactured homes, there are 1.628 million completions in 2024, up 12.4% from 1.449 million in 2023, and also the most since 2006.

This graph shows total housing completions and placements since 1968 through 2024. 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 1,020.4 thousand single family completions in 2024 (red), up 2.2% from 998.8 thousand in 2023. There were 16.8 thousand completions of 2-to-4 units, and 590.6 thousand completions of 5+ units (blue), up 35% from 2023, and the most since 1974!

Estimate note on manufactured homes: In February, the Census Bureau will release the shipments of manufactured homes for December and for all of 2024. There were 96.2 thousand shipments through November, and my estimate is there were 103.2 thousand total placements in 2024, up 16% from 89.2 thousand in 2023.