by Risk calculated on 25/05/2023 10:51:00
Today, in the Calculated Risk Real Estate Newsletter: The total number of housing completions is likely to decline slightly in 2023; The mix will change
Brief excerpt:
Although housing starts have slowed, completions will likely decline only slightly in 2023.
This graph shows the total number of housing completions and placements since 1968 with an estimate for 2023. Note that the net addition to the housing stock is less due to demolitions and the destruction of older housing units.
My current estimate is that the total number of completions (single-family, multi-family and manufactured homes) will decline in 2023 to about 1.45 million, from 1.505 million in 2022. However, the mix will change significantly from 2022 with fewer single-family completions, and more multi-family completions.
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