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.
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
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
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
Existing Home Sales Decline as Well
I’ve been saying for a while now that really, really tough economic data was coming. Even though it was obvious to many of us that the economy was crashing – thanks to COVID-19 – it takes time for backward-looking statistics to catch up. Well, now they’re starting to catch up and with overall residential housing construction starts dropping an eye-popping 30.2% in April…they are ugly.
But read on to see why one piece of data seems to suggest that a housing turnaround make be lurking in the near future – or is even already here…
Learn more about this new data on the housing market…[Read more…] about Shocking 30+% Drop in Housing Construction Starts; But a Turnaround May Be Lurking
You knew it was coming, but we just couldn’t see it until statistical data caught up with the rapidly changing U.S. economy. But now, we are getting a snapshot of these changes and they are breathtaking…and a little scary. Hold on tight…it’s going to get worse before it gets better.
See a selection of data showing the economy hitting the brakes…[Read more…] about Tighten Your Harness, The Rocket Ship U.S. Economy is Coming Down Hard
The U.S. Census Bureau and the U.S. Department Housing and Urban Development announced this week that sales of newly built residences fell in February 2020. Housing starts also fell in February. This housing market downturn is likely a precursor to much more dramatic declines when figures for March 2020 are reported – a time period when the coronavirus (COVID-19) pandemic began to really take hold across America, forcing State and City governments across the U.S. to order residents of all non-essential businesses to stay home.
See more on the drop in new home sales…[Read more…] about New Home Sales & Housing Starts Decline in February, A Hint of Things to Come
Like at the end of the Christmas movie, Miracle on 34th Street, it appears that Santa brought new homes for all the good little girls and boys at the end of last year. New government data on residential housing construction starts for December 2019 startled economists, jumping an unexpected 16.9% for the highest rate of construction in 13-years.
See more on this unexpected jump in housing starts…[Read more…] about Huge Jump in End-of-2019 Housing Starts Startles Economists
The Census Bureau, in cooperation with the U.S. Department of Housing and Urban Development, released new home construction data for November, offering details on what is generally known as housing starts. The overall construction starts – which includes both single-family and multi-family homes – both showed increases over the revised numbers for October, suggesting a return to economic stability after a period of concern about a possible slowdown.