US Housing Market Activity
Last updated:
Source: New mortgages FRED series RCMFLOORIGPURPPURCHASE disaggregated to monthly frequency using FRED EXHOSLUSM495S and FRED HOUST, housing starts total new privately owned housing units
Source description: Monthly United States housing market activity indicator based on a weighted combination of new mortgage lending and residential building starts, indexed to 2019 = 100.
Table ID: macro_economics/housing/us_housing_market_activity_monthly
Key findings:
- US housing activity is below its 2019 baseline, so the housing-linked demand signal is still soft.
- The series is still in the weaker part of its range, leaving the housing cycle fragile.
- Recent movement is broadly sideways, so the housing signal is not yet showing a clear new impulse.
Latest data:
| date | value |
|---|---|
| 2025-04-01 | 89.06 |
| 2025-05-01 | 86.17 |
| 2025-06-01 | 88.12 |
| 2025-07-01 | 87.84 |
| 2025-08-01 | 84.34 |
| 2025-09-01 | 85.96 |
| 2025-10-01 | 78.68 |
| 2025-11-01 | 79.87 |
| 2025-12-01 | 83.14 |
| 2026-01-01 | 82.41 |
| 2026-02-01 | 82.48 |
| 2026-03-01 | 85.11 |
This indicator shows monthly housing market activity in the United States based on a composite index that combines residential building permits and new mortgage lending. By capturing both construction intentions and financing activity, the series provides a signal of developments in the residential housing cycle.
Market Context
Housing market dynamics are closely linked to demand for a wide range of home-related goods, including furniture, kitchens, and interior products. When residential construction and mortgage lending increase, it often indicates stronger housing turnover and investment, which can stimulate demand for furnishing and home improvement products. Conversely, weaker housing activity can signal softer demand conditions in these sectors. Related indicators include the US Consumer Confidence, which tracks changes in household sentiment and expectations in the United States.
