For the last couple of months, I’ve reported that residential construction – commonly known as housing starts (as in starting construction) – have returned mixed results, suggesting the housing industry recovery was potentially stalling. Now, in new data from the U.S. Department of Commerce, we see that housing construction began a more durable return to growth.
On Tuesday, the U.S. Department of Commerce released their latest report on residential construction for the month of September 2020. Like last month, the results on housing starts were mixed, with both good news for custom integrators and bad news for the overall industry – suggesting again that housing growth, while robust, is beginning to moderate.
See housing starts results for September…[Read more…] about Housing Starts Split Again in September for Good News/Bad News Result
It has been quite the roller coaster ride for housing – first dropping a COVID-driven, eye-popping 30.2% in April to just a 934,000 unit seasonally adjusted annual rate. Then gradually rebounding in May and June…leading to a record 22.6% increase in July.
Now we see a bit of a pause in August, with overall housing starts declining 5.1% to a rate of 1,416,000 units, down from the revised rate of 1,492,000 in July.
Get the latest housing construction & sales data[Read more…] about August Housing Data Diverges, Suggests Growth is Moderating
Only Electronics & Appliances Show Big Growth
In a new and troubling sign that the economy is not yet out of the woods, government data showed that for the month of July, retail sales barely crept up 1.2% overall. But there was one bright spot in the government’s report – retail sales of electronics and appliances jumped an impressive 23%.
See more on retail sales growth slowing…[Read more…] about Retail Sales Growth Slows in July, Up Just 1.2%
By almost any measure, the housing market is in a major rebound, with the U.S. Commerce Department reporting on Tuesday that residential construction starts jumped an impressive 22.6% in July. This is the largest jump in housing starts in almost four years, according to a report by Reuters.
Learn more on the rebound of housing starts…[Read more…] about Housing’s On Fire – Housing Starts Jump 22.6% in July
In new economic data released by the government today, the real gross domestic product (GDP) for the second quarter of 2020 declined an astonishing 32.9%, the worst ever such reading in recorded history. This result follows a decline of 5% in the first quarter and demarks a deep and painful recession resulting from the impact of the COVID-19 pandemic engulfing the United States, and the world.
Learn more about this stunning GDP crash…[Read more…] about Q2 GDP Crashes 33% in Worst Economic Quarter in Recorded History
Two new economic reports from June covering the housing industry show promising results, with both residential construction (otherwise known as housing starts), and sales of newly constructed homes taking a nice bounce in June. This was welcome news after dramatic declines hit the housing market in early Spring.
But will it hold?
See more on the changing housing market[Read more…] about Residential Construction & New Home Sales Bounce Back in June
Last month, Strata-gee reported on a shocking 30+% drop in residential housing construction, with starts dropping an eye-popping 30.2% in April. That was ultimately revised to a decline of “only” 26.4%…still a massive one month decline. Now in May, we see starts attempting to rebound from those unprecedented drops.
See more on May’s housing starts data…[Read more…] about Housing Starts Struggle to Regain Their Footing in May
I would hope that by now long time Strata-gee readers had already anticipated this day, and now it’s official that this day has come – the U.S. economy is in a recession. It really shouldn’t surprise anyone. However, I know that there are some I’ve spoken with who were expecting a “rubber ball” rebound where – almost magically – everything, including business levels, would bounce back to normal quickly. This seemed to be based more on wishful thinking, or just general optimism, rather than anything factually based.
I suspect some of those folks might be a little surprised to learn that the economy is sliding into recession.
Learn more about our 2020 recession…[Read more…] about A New Epidemic Sweeps Across America…Recession
Now completed, Strata-gee’s COVID-19 Impact on Tech II Survey is a follow-up study to Strata-gee’s original survey, COVID-19 Impact on Tech. If you haven’t read those original results yet, I would suggest you start there by clicking on this link as it will add context to the follow-up survey discussed here. And this time we learn that things have definitely changed in just five short weeks. In a nutshell, survey respondents report that the impact of COVID-19 this time around is much greater than in March.