Housing is an important component of the U.S. gross domestic product (GDP) and overall economy. Housing contributions to the GDP are valued in two discrete means: private residential investment and consumption spending of housing services. Residential investment includes construction of new single-family and multifamily structures, residential remodeling, manufactured house production, and brokers' fees. Consumption spending on housing services includes gross rents, which include utilities, paid by renters and owners' imputed rent. Historically, residential investment has averaged roughly 5 percent of GDP, while housing services have averaged between 12 and 13 percent, for a combined 17 to 18 percent of GDP. These proportions tend to vary during business cycles. This Forest Service report provides data on permits, starts, completions, house pricing, and new and existing house sales. More importantly, macro factors that affect the housing market are included: U.S. and world economies, demographics, delinquent, foreclosed, and shadow inventory, employment, and housing design trends. In addition, commentary from notable professionals is included.