Report: Housing starts to total 1.6 million units in 2021

U.S. housing starts will total 1.6 million units in 2021, according to a new report. Photo: iStock.com/levkr

U.S. housing starts will total 1.6 million units in 2021, according to a new report.

A report called “Housing: United States” from Freedonia Focus Reports notes that single-unit conventional housing starts represent the fastest-growing and largest construction segment and will benefit from an improving economy and rising household creation.

According to the report, many consumers prefer detached homes and other single-unit types. However, demand for single-unit housing will be restrained by other housing options ranging from manufactured housing, a lower-cost substitute and availability of multiple-unit options such as condominiums.