Freedonia Focus Reports

US Collection

Housing:
United States

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September 2014

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Industry Overview
Industry Size and Trends | Housing Starts Segmentation | Housing Stock
Housing Sales and Starts by Region

Highlights

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Housing Forecasts
Market Environment | Housing Starts Forecasts | Housing Stock Forecasts
Regional Housing Sales and Starts Forecasts

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Resources

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Industry Structure
Industry Composition and Characteristics | Additional Companies Cites
www.freedoniafocus.com

Housing: United States

ABOUT THIS REPORT

Scope & Method

This report forecasts to 2018 US housing starts and the housing stock in units, and
average floor space per new and existing units in square feet. Segmentation is provided
in terms of:

single-unit conventional
multiple-unit conventional
manufactured.

A conventional housing start is counted on the date foundation work begins; for
manufactured units, the date of placement represents a housing start. Manufactured
housing excludes modular and precut varieties.
Housing starts and the housing stock are also segmented by region as follows:

South
West
Midwest
Northeast.

This report also forecasts total US existing home sales in units, segmented by region,
as well as US residential building construction expenditures in US dollars to 2018. Total
expenditures are provided in terms of single-unit, multiple-unit, and improvements.
As defined by the US Census Bureau, construction expenditures include architectural
and engineering work; the costs of labor, materials, and overhead; interest and taxes
paid during construction; and contractors profits. Improvements include additions and
alterations to existing structures but exclude maintenance and repairs.
To illustrate historical trends, housing starts and the various segments, the housing
stock, and new housing construction expenditures are provided in annual series from
2003 to 2013; existing home sales and the various other segments are reported at fiveyear intervals for 2008 and 2013. Forecasts are developed via the identification and
analysis of pertinent statistical relationships and other historical trends/events as well as
their expected progression/impact over the forecast period. Changes in quantities
between reported years of a given total or segment are typically provided in terms of
five-year compound annual growth rates (CAGRs). For the sake of brevity, forecasts are
generally stated in smoothed CAGR-based descriptions to the forecast year, such as
demand is projected to rise 3.2% annually through 2018. The result of any particular
year over that period, however, may exhibit volatility and depart from a smoothed, longterm trend, as historical data typically illustrate.
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2014 by The Freedonia Group, Inc.

Housing: United States

Key macroeconomic indicators are also provided at five-year intervals with CAGRs for
the years corresponding to other reported figures. Other various topics, including
profiles of pertinent leading suppliers, are covered in this report. A full outline of report
items by page is available in the Table of Contents.

Sources
Housing: United States represents the synthesis and analysis of data from various
primary, secondary, macroeconomic, and demographic sources including:

firms participating in the industry, and their suppliers and customers

government/public agencies
national, regional, and international non-governmental organizations
trade associations and their publications
the business and trade press
The Freedonia Group Consensus Forecasts dated April 2014
the findings of other industry studies by The Freedonia Group.

Specific sources and additional resources are listed in the Resources section of this
publication for reference and to facilitate further research.

Industry Codes
The topic of this report is related to the following industry codes:
NAICS/SCIAN 2007
North American Industry Classification System

SIC
Standard Industry Codes

236115

1521

236116
236117
236118
321991

New Single-Family Housing

Construction (except operative
builders)
New Multifamily Housing Construction
(except operative builders)
New Housing Operative Builders
Residential Remodelers
Manufactured Home (Mobile Home)
Manufacturing

1522
1531
2451

General Contractors Single-Family

Houses
General Contractors Residential
Buildings, Other Than Single-Family
Operative Builders
Mobile Homes

Copyright & Licensing

The full report is protected by copyright laws of the United States of America and international treaties.
The entire contents of the publication are copyrighted by The Freedonia Group, Inc.

2014 by The Freedonia Group, Inc.

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Housing: United States

Table of Contents
Section

Page

About This Report ......................................................................................................................................... i

Highlights....................................................................................................................................................... 1
Industry Overview ......................................................................................................................................... 2
Industry Size & Trends............................................................................................................................. 2
Chart 1 | United States: Housing Starts Trends, 2003-2013 .............................................................. 3
Housing Starts Segmentation .................................................................................................................. 4
Chart 2 | United States: Housing Starts by Type, 2013 ...................................................................... 4
Chart 3 | United States: Housing Starts by Type, 2003-2013 (000 units) ......................................... 5
Single-Unit Conventional. ................................................................................................................... 6
Multiple-Unit Conventional. ................................................................................................................. 7
Manufactured. ..................................................................................................................................... 7
Housing Stock .......................................................................................................................................... 9
Chart 4 | US Housing Stock by Type, 2013 ........................................................................................ 9
Chart 5 | US Housing Stock by Region, 2013 .................................................................................... 9
Chart 6 | United States: Housing Stock Trends, 2003-2013 ............................................................ 10
Housing Sales & Starts by Region ......................................................................................................... 11
Chart 7 | US Existing Home Sales by Region, 2013 ........................................................................ 11
Chart 8 | US Housing Starts by Region, 2013 .................................................................................. 11
Housing Forecasts ...................................................................................................................................... 12
Market Environment ............................................................................................................................... 12
Table 1 | United States: Key Indicators for Housing; 2008, 2013, 2018 .......................................... 12
Housing Starts Forecasts....................................................................................................................... 13
Table 2 | United States: Housing Starts; 2008, 2013, 2018 ............................................................. 13
Single-Unit Conventional. ................................................................................................................. 14
Multiple-Unit Conventional. ............................................................................................................... 14
Manufactured. ................................................................................................................................... 15
Housing Stock Forecasts ....................................................................................................................... 16
Table 3 | United States: Housing Stock by Type & Region; 2008, 2013, 2018 ................................ 16
Regional Housing Sales & Starts Forecasts .......................................................................................... 17
Table 4 | United States: Existing Home Sales & Housing Starts by Region; 2008, 2013, 2018 ...... 17
Industry Structure ........................................................................................................................................ 18
Industry Composition & Characteristics ................................................................................................. 18
Company Profile 1 | DR Horton Inc .................................................................................................. 19
Company Profile 2 | Lennar Corporation .......................................................................................... 20
Company Profile 3 | PulteGroup Inc ................................................................................................. 21
Company Profile 4 | NVR Inc ............................................................................................................ 22
Company Profile 5 | Cavco Industries Inc ........................................................................................ 23
Additional Companies Cited................................................................................................................... 24
Resources ................................................................................................................................................... 25
To return here, click on any Freedonia logo or the Table of Contents link in report footers.
PDF bookmarks are also available for navigation.

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2014 by The Freedonia Group, Inc.