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 … Continue reading
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 – … Continue reading
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 … Continue reading
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 … Continue reading
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 … Continue reading
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 … Continue reading
In new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the readings appear split with housing starts showing increases while new home sales declined. Housing, a prime component of the overall U.S. GDP … Continue reading
As the economy continues to show more signs of a slowdown, we can’t help but notice increasing volatility in the month-to-month readings of various statistics. The latest government data on housing construction starts is a great example of this. After … Continue reading
In the choppy waters of today’s current economy, we continue to get mixed signals – this time from the housing market. Last week, we learned that residential construction starts declined in June by 0.9% below the rate in May. This … Continue reading
In the latest data from the US Department of Commerce, residential construction showed a decline for the month of May in both overall and in single-family starts. Viewed by many as another sign of an economic slowdown, housing is a … Continue reading