Single-Family & Multifamily Construction: Bring on the Supply just as Population Growth Slows to a Crawl

In 2025, construction was started on 1.36 million privately owned housing units, down just a hair from a year ago: 943,000 single-family housing units and 416,000 multifamily housing units (condos and rental apartments), according to Census Bureau data today. About 2.3 people occupy a housing unit on average.