Tag: housing starts
Single-Family Housing Continues Growth in August
Single-family starts showed continued growth in August but overall housing production fell 5.1% to a seasonally adjusted annual rate of 1.42 million units due to a double-digit percentage decline in multifamily production, according to a report from the U.S. Housing and Urban Development and Commerce Department. The pace of single-family starts in August was the highest production rate since February.
Strong July for Housing Starts
In a further sign that housing continues to boost the economy, single-family and multifamily starts each posted solid gains in July, with total housing production up 22.6% to a seasonally adjusted annual rate of 1.50 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. This is the highest production rate since February.
Single-Family Starts and Permits Post Double-Digit Gains in June
Led by solid single-family production, total housing starts increased 17.3% in June to a seasonally adjusted annual rate of 1.19 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department.
Broad Declines for Home Construction in April
Reflecting the continued impact of the COVID-19 pandemic, total housing starts decreased 30.2% in April to a seasonally adjusted annual rate of 891,000 units, according to a report from the U.S. Housing and Urban Development and Commerce Department. This is the lowest starts rate since the first quarter of 2015. Meanwhile, the pace of total permits declined 20.8% to 1.07 million on an annualized basis.
Housing Starts Down in March on Coronavirus Effects
Reflecting the growing impact of the COVID-19 pandemic, total housing starts decreased 22.3% in March from a downwardly revised February reading to a seasonally adjusted annual rate of 1.22 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. Meanwhile, overall permits declined 6.8% to 1.35 million.
Single-Family Housing Starts Up in February, but Challenges Lie Ahead Due to Coronavirus
Housing starts were strong at the outset of 2020, as builders started production of homes to meet consumer demand at the beginning of the year. However, challenges lie ahead due to broad economic weakening stemming from the coronavirus crisis.
Housing Production Shows Solid Start to 2020
Total housing starts decreased 3.6% in January from an upwardly revised December reading to a seasonally adjusted annual rate of 1.57 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. Meanwhile, overall permits surged to a 13-year high.
Housing Starts Finish 2019 Strong
Total housing starts increased 16.9% in December to a seasonally adjusted annual rate of 1.61 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. This is a 13-year high for housing starts.
A Decade of Home Building: The Long Recovery of the 2010s
The 2010s was by far the lowest decade of single-family production in the last 60 years. During this 10-year period, single-family home construction totaled just 6.8 million units. By comparison, single-family starts ranged from 9.3 million units in the 1960s to 12.3 million in the 2000s.
New Single-Family Homes are Getting Smaller
New single-family home size trended lower in the third quarter of 2019, a pattern from recent years that is likely to continue as builders add more entry-level homes into inventory and the custom market levels off, according to NAHB Chief Economist Robert Dietz.
