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Construction Pipeline

US Housing Units Under Construction Statistics 2026

Units under construction sit between starts and completions, so the series can frame future supply without promising delivery dates.

By PortfolioRental Editorial Team · · Updated 2026-08-06 · 8 sources

Rows of balconies on a residential apartment facade

Key takeaways

  • June 2026 showed 1.264 million units under construction in the FRED series.
  • The measure is a pipeline count, not a completion schedule.
  • Local permits, starts, and delivery evidence are still needed.

Source record

8 cited sources

Last verified

2026-08-06

In this article

Units under construction in June 2026

The FRED series showed 1.264 million U.S. housing units under construction in June 2026, compared with 1.266 million in May. The count describes a construction stage. It does not promise that every unit will complete on the same schedule or enter the rental stock.

Read the pipeline in stages

Review permits, starts, units under construction, and completions as separate observations. The housing starts series describes an earlier stage, while completions describe delivery evidence. Mixing those stages can make a supply memo sound more certain than the data allows.

Portfolio use

For a target submarket, record project name, unit count, construction stage, expected delivery source, property type, and observation date. Confirm local planning or permit records before changing a rent, occupancy, or acquisition assumption.

Method and limits

The figures come from FRED UNDCONTSA, supported by the Census New Residential Construction program. Census definitions and revisions control interpretation. National totals do not identify a specific submarket.

Frequently asked questions

Does under construction mean nearly leased?

No. Construction status says nothing about leasing, marketing, or final occupancy.

What is the best next check?

Check project-level permits, construction progress, expected completion evidence, and comparable rental inventory.

Sources and verification dates

  1. FRED: Housing Units Under Construction, accessed August 6, 2026.
  2. U.S. Census Bureau: New Residential Construction, accessed August 6, 2026.
  3. U.S. Census Bureau: New Residential Construction Definitions, accessed August 6, 2026.

Ready to review supply?

Use investment analysis to document the project evidence and the assumptions that remain uncertain.

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