Singlefamily housing starts in January were at a rate of 926,000, 25.1% above the revised December figure of 740,000. The January rate for units in buildings with five units or more was 289,000..
Housing starts fell for the second consecutive month and have fallen in six of the past seven months. Permits show a similar, somewhat distressing trend, falling 1.7% in March, following declines of 2.
U.S. housing starts unexpectedly fell in January likely as bad weather disrupted building projects in some parts of the country. US housing starts, building permits fall in January Home
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Housing starts in January were at a seasonally adjusted annual rate of 1.326 million, up 9.7% compared with 1.209 million in December and up from 1.236 million in January 2017, according to estimates released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development.. Most of the increase was attributable to starts of multifamily (five units or more per building) homes.
· Starts for the volatile multi-family housing segment plunged -19.8% to a rate of 315,000 units in June. Groundbreaking on buildings with five units or more fell to a 10-month low. Permits for the construction of multi-family homes dropped -7.6% to a pace of 423,000 units.
“Housing starts in May were below both the annualized April rate and the rate from May a year ago, and housing completions in May were also below April’s rate and May 2018’s rate,” Frick said..
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· Starts in January were at the highest level of the past 11 years. The cycle high print has typically been well over a year before the next recession (arrows). Building permits were at the highest level in 10 years in March (red line) but fell 6% yoy in October after rising 5% yoy in October 2017.
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In January, single-family housing starts, the largest segment of the market, fell 3.9 percent to a 731,000-unit pace. Single-family starts tumbled 14.1 percent in Northeast and fell 3.8 percent in.
Housing Starts by State and Metro Areas Look ahead with the home builders forecasts by region and type such as: State and Metro Forecasts: Includes starts forecast, Excel tables of total, single-family, and multifamily housing starts by regions, states and the top 100 metropolitan areas.