PD&R’s U.S. Housing Market Conditions Database: An Overview of a HUD User Resource

PD&R's U.S. Housing Market Conditions Database: An Overview of a HUD User Resource

This article provides a brief overview of the online home of the United States Housing Market Conditions (USHMC) indicators charting data, which offers interactive tabular and graphical displays of annual, quarterly, and monthly statistics about housing supply, housing demand, housing finance and investment, and housing ownership and vacancy dating back several decades. HUD's Office of Policy Development and Research (PD&R) updates the graphs, tables, and downloadable datasets as frequently as monthly to serve as a convenient and accessible resource for industry, government, and public clients who wish to incorporate up-to-date housing market information into their documents and presentations or conduct further analyses.

Data sources

PD&R compiles housing market data from various federal and private-sector sources and publishes them on the USHMC website. Federal sources include HUD (specifically, the Office of Multifamily Housing Programs and PD&R); the Federal Housing Finance Agency; the Bureau of Economic Analysis within the U.S. Department of Commerce; and U.S. Census Bureau surveys such as the Survey of Construction, Manufactured Housing Survey, Survey of Market Absorption of New Multifamily Units, and the Housing Vacancies and Homeownership section of the Current Population Survey. Private-sector sources include the National Association of REALTORS®, S&P Global, the National Association of Home Builders, and the government-sponsored entity Freddie Mac.

Graphing the indicators

PD&R displays USHMC indicators in graphical and tabular form, and users can import the associated data into Excel. Exhibit 1 organizes the indicators by category with links for each subcategory and quarterly period. To view graphs of any of the indicators, visit the "National Housing Market Summary" page and hover over one of the four indicator categories: Supply Data, Demand Data, Finance and Investment Data, or Ownership and Vacancy Data. Figure 1 depicts the selection of the Single and Multifamily Construction family of indicators from the Supply Data category.

Figure 1. Selecting an Indicator Category

The user then selects a specific indicator to visualize from the Choose an Indicator menu. For example, the available indicators for the Single-Family and Multifamily Construction subcategory are permits, starts, under construction, and completions; figure 2 shows the graph generated for permits. Hovering the cursor over a point on the graph triggers a popup with the value for that period: figure 2 shows that the total private housing units permitted (in thousands) for 2023 was 1,470.596.

Figure 2. Graphing an Indicator

In addition, by choosing the relevant radio button, users can view most indicators as graphs that cover either annual and quarterly data or (as in figure 2) annual and monthly data. PD&R updates the four Single-Family and Multifamily Construction indicators monthly with a slight lag and annually when a final, revised estimate for the year is available. Exhibit 2 shows the date ranges covered by various housing supply, demand, finance and investment, and ownership and vacancy indicators.

Finally, users select the series they wish to view by clicking on the pertinent radio button. For example, housing market indicators often are graphed at different levels of geography that the user can select, including by region, metropolitan statistical areas, Census division, and metro. In most cases, these data are updated at the smallest level of geography publicly available. In a few instances, users can graph indicators by structure type, loan type, household age, and household type.

When applicable, series data correspond to the U.S. Census regions, because the data comes from survey information that the U.S. Census Bureau collects. Although some overlap exists between Census regions and HUD regions 1 through 10 (which were used for data reported in the U.S. Housing Market Conditions report until 2012), the states included within these regions are not the same. Exhibit 3 describes the four Census regions, the subregions, and the states within those subregions. Introduced in 2013, the HUD PD&R Regional Reports use the existing HUD regions. The Quarterly National Housing Market Summary reports produced from 2013 to the present do not break out regional data.

Users may also print graphs or download image files in various formats (PNG, JPG, and SVG). For example, the image in figure 3 (accessed from the Ownership and Vacancy Data category and Housing Stock subcategory) shows that the number of housing units in the United States increased 128 percent between 1965 and 2024, from 64.2 million to 146.8 million units. Similarly, figure 4 (accessed from the Supply Data category and New Single-Family Homes for Sale subcategory) illustrates how many single-family homes were available for sale each month between January 2016 and May 2025, showing a trend of more new homes being placed on the market as housing supply attempts to meet housing demand.

Figure 3. Number of U.S. Housing Units Between 1965 and 2024

Source: USHMC webpage (https://www.huduser.gov/portal/ushmc/hi_Stock.html)

 

Figure 4. New Single-Family Homes for Sale Between 2016 and 2025

Source: USHMC webpage (https://www.huduser.gov/portal/ushmc/hs_newsf.html)

Reports

PD&R uses these same indicators in various monthly and quarterly reports to summarize trends in housing market statistics. Before 2013, USHMC referred to a specific report published on a quarterly basis and modeled after the Federal Reserve Board's Beige Book. The USHMC report was replaced by the National Housing Market Summary, which has been published quarterly since 2013 and continues to connect the indicators to the health of the nation's housing demand and supply. Other resources on the USHMC website include Comprehensive Housing Market Analysis reports (2003 to 2025, as well as scanned reports from 1964 to 1977), Regional Housing Market Conditions (2009 to 2025), Housing Market Profiles (2009 to 2025), and interactive Market-at-a-Glance reports that cover 2023 to 2025. PD&R's Economic and Market Analysis Division prepares the Comprehensive Housing Market Analyses to illustrate housing market trends and how they relate to FHA multifamily loan activity. The Regional Housing Market Conditions quarterly reports summarize economic and market trends within the 10 HUD regions. Housing Market Profiles typically focus on metropolitan areas and discuss economic activity, population changes, building activity, and sales and rental market conditions with a focus on the most recent 24 months. Between years, the geographic area analyzed may vary. For example, the Chicago-Naperville-Arlington Heights metropolitan statistical area was analyzed in 2024, and Cook County, Illinois, was analyzed in 2025. The Market-at-a-Glance webpage generates short reports for counties, metropolitan areas, states, HUD regions, and the nation that summarize current economic, demographic, and sales and rental market conditions. The National Housing Market Indicators Report is a monthly report on the health of the nation's housing market.

Please stay tuned for future updates from PD&R about the USHMC website and data.

Exhibit 1. Data Availability for Housing Market Indicators by Category

Category	Subcategory	Annual	Quarterly	Monthly
Supply	Single-family and Multifamily Construction: https://www.huduser.gov/portal/ushmc/hs_sfm.html	✓	–	✓
Supply	Manufactured Housing:  https://www.huduser.gov/portal/ushmc/hs_man_hsg.html	✓	–	✓
Supply	New Single-Family Homes for Sale: https://www.huduser.gov/portal/ushmc/hs_newsf.html	✓	–	✓
Supply	Existing Single-Family Homes for Sale: https://www.huduser.gov/portal/ushmc/hs_exh.html	✓	–	✓
Demand	Home Sales: https://www.huduser.gov/portal/ushmc/hd_home_sales.html	✓	–	✓
Demand	Home Prices: https://www.huduser.gov/portal/ushmc/hd_home_prices.html	✓	✓	–
Demand	Repeat Sales Indices: https://www.huduser.gov/portal/ushmc/hd_repeat_sales.html	✓	✓	–
Demand	Homeownership Affordability: https://www.huduser.gov/portal/ushmc/hd_hsg_aff.html	✓	–	✓
Demand	Rental Affordability: https://www.huduser.gov/portal/ushmc/hd_rai.html	✓	✓	–
Demand	Multifamily Absorption: https://www.huduser.gov/portal/ushmc/hd_mul_fam.html	✓	✓	–
Demand	Manufactured Housing: https://www.huduser.gov/portal/ushmc/hd_mand.html	✓	–	✓
Demand	Builders' Views of Housing: https://www.huduser.gov/portal/ushmc/hd_BldView.html	✓	–	✓
Finance and Investment	Gross Domestic Product and Residential Fixed Investment: https://www.huduser.gov/portal/ushmc/fi_gdp.html	✓	✓	–
Finance and Investment	Value of New Construction, Private Residential Buildings: https://www.huduser.gov/portal/ushmc/fi_ConsVal.html	✓	–	✓
Finance and Investment	Advertised Mortgage Rates: https://www.huduser.gov/portal/ushmc/fi_AdvMrtRte.html	✓	–	✓
Finance and Investment	Closed Loan Mortgage Rates: https://www.huduser.gov/portal/ushmc/fi_ClsdMortRte.html	✓	–	✓
Finance and Investment	FHA Unassisted Multifamily Mortgage Insurance Activity: https://www.huduser.gov/portal/ushmc/fi_FHAMF.html	✓	–	–
Finance and Investment	FHA Mortgage Market Share by Dollar Volume: https://www.huduser.gov/portal/ushmc/fi_FHAShareVol.html	✓	✓	–
Finance and Investment	FHA Mortgage Market Share by Loan Count: https://www.huduser.gov/portal/ushmc/fi_FHAShareLnCnt.html	✓	✓	–
Finance and Investment	FHA, VA, and Private Mortgage Insurance Activity: https://www.huduser.gov/portal/ushmc/fi_MortInsAct.html	✓	–	✓
Ownership and Vacancy	Rental Vacancy Rate: https://www.huduser.gov/portal/ushmc/hi_RentVac.html	✓	✓	–
Ownership and Vacancy	Homeownership Rate: https://www.huduser.gov/portal/ushmc/hi_HOR.html	✓	✓	–
Ownership and Vacancy	Housing Stock: https://www.huduser.gov/portal/ushmc/hi_Stock.html	✓	✓	–
Ownership and Vacancy	Households: https://www.huduser.gov/portal/ushmc/hi_households.html	✓	✓	–

 

Exhibit 2. Data Time Periods Available for Housing Market Indicators as of September 2025

Indicator	Annual Range	Quarterly Range	Monthly Range
Single and Multifamily Construction	1968 – 2023	N/A	1/1968 – 6/2025
Manufactured Housing Supply	1978 – 2023	N/A	1/1978 – 6/2025
New Single-Family Homes for Sale	1963 – 2023	N/A	1/1968 – 6/2025
Existing Single-Family Homes for Sale	1982 – 2024	N/A	1/2013 – 6/2025
Home Sales	1963 – 2024	N/A	1/1968 – 6/2025
Home Prices	1963 – 2024	1968 Q1 – 2025 Q2	N/A
Repeat Sales Indices	1991 – 2024	1991 Q1 – 2025 Q2	N/A
Composite Homeownership Affordability Index	1970 – 2021	N/A	3/2024 – 5/2025
Rental Affordability	2001 – 2022	2000 Q4 – 2024 Q4	N/A
Multifamily Absorption	1970 – 2023	2015 Q1 – 2024 Q3	N/A
Manufactured Housing Demand	1978 – 2013	N/A	1/1980 – 7/2014
Builders' View of Housing Market Index	1985 – 2024	N/A	1/2007 – 6/2025
Gross Domestic Product and Residential Fixed Investment	1930 – 2024	1968 Q1 – 2025 Q2
Value of New Construction, Private Residential Buildings	1983 – 2024	N/A	4/1996 – 6/2025
Advertised Mortgage Rates	1973 – 2024	N/A	1/1973 – 6/2025
Closed Loan Mortgage Rates	1963 – 2018	N/A	1/1996 – 4/2019
FHA Unassisted Multifamily Mortgage Insurance Activity	1980 – 2024	N/A	N/A
FHA Mortgage Market Share by Dollar Volume	2001 – 2024	2003 Q1 – 2025 Q1	N/A
FHA Mortgage Market Share by Loan Count	2003 – 2024	2003 Q1 – 2025 Q1	N/A
FHA, VA, and Private Mortgage Insurance Activity	1971 – 2024	N/A	1/1994 – 5/2025
Rental Vacancy Rate	1979 – 2024	1997 Q1 – 2025 Q2	N/A
Homeownership Rate	1965 – 2024	1997 Q1 – 2025 Q2	N/A
Housing Stock	1965 – 2024	1968 Q1 – 2025 Q2	N/A
Households	1965 – 2024	2000 Q2 – 2025 Q2	N/A

 

Exhibit 3. U.S. Census Regions, Subregions, and States Included

U.S. Census Regions	Subregions	States
Northeast	New England	CT, ME, MA, NH, RI, VT
	Middle Atlantic	NJ, NY, PA
Midwest	East North Central	IL, IN, MI, OH, WI
	West North Central	IA, KS, MN, MO, NE, ND, SD
South	South Atlantic	DE, DC, FL, GA, MD, NC, SC, VA, WV
	East South Central	AL, KY, MS, TN
	West South Central	AR, LA, OK, TX
West	Mountain	AZ, CO, ID, MT, NV, NM, UT, WY
	Pacific	AK, CA, HI, OR, WA