New-home building starts down 24%, completions down 30% over a year
- Housing starts
- −24,0 %sur un an, depuis 2025-05
- Homes completed
- −29,7 %sur un an, depuis 2025-05
When you sign a lease today, you are competing for an apartment that already exists. The number of new ones in the pipeline is shrinking, and that shows up in actual construction figures, not forecasts.
Home building starts — apartments where builders have just broken ground — fell 24.0% in May 2026 compared with May 2025. Home building completions — apartments finished and ready for tenants — fell 29.7% over the same twelve months. Both numbers describe construction activity already measured, not an estimate of what is coming.
What this means for you: the stock of apartments you can choose from today was shaped a year or two ago, when these projects started. If you're weighing a new lease, know that the supply pipeline behind it has slowed, not sped up, over the last year.
Sources
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