Circular Economy has been highlighted internationally as a solution to mitigate global warming. This study examines the reuse potential of precast concrete elements in Swedish residential buildings, quantifying its impact on element flows and stock using life cycle assessment. While reuse achieves higher carbon savings than recycling, the overall impact remains modest due to limited demolition and high demand for new materials, with most precast concrete elements still embedded in the stock. Assuming all deconstructed elements are reused, savings reach up to 1 % of lifecycle emissions, with a proportional relationship observed between reuse share and embodied carbon savings. Despite aligning with IPCC recommendations for increased prefabrication, the growing precast concrete intensity in buildings with precast concrete structure reflects rising resource consumption. Further studies should assess how technological advancements affect life cycle impacts and reuse feasibility, while also exploring reuse in non-residential buildings and policy measures to strengthen circular economy strategies.