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Shocking 30+% Drop in Housing Construction Starts; But a Turnaround May Be Lurking

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a machine gets ready to start constructing a housing project

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…

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Tighten Your Harness, The Rocket Ship U.S. Economy is Coming Down Hard

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graph of economic downturn

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…

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New Home Sales & Housing Starts Decline in February, A Hint of Things to Come

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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…

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Huge Jump in End-of-2019 Housing Starts Startles Economists

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Photo of a home being built

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…

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Housing Construction Starts Grow Again in November

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housing construction starts photo

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.

See more on housing construction starts…

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Oct. Housing Data is Split: Home Construction UP, Home Sales DOWN

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Photo of a new home for sale

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 has been in a bit of a swell over the last couple of months, driven largely by low interest rates stimulating demand for homes.

See more on the latest housing data…

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Housing Starts in Sharp Slide in September

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Photo of construction workers

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 a big jump in August, starts dropped in September by 9.4% – a larger than normal amount – from the revised rate in August.

See the surprising slump in housing starts…

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More Mixed Signals from Housing – Starts Down, Sales Up

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Housing - Photo of newly constructed home

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 week, we find that sales of newly built homes in June increased by 7% as compared to sales in May.

What should we make of developments in housing?…

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Residential Construction Starts Decline in May

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Photo of housing under construction

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 major component of the overall US gross national product.

See the data on the decline of residential construction starts in May…

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April Residential Housing Construction Starts are Up and Down

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The latest data from the US Census Bureau shows a pretty nice increase in April residential housing construction starts – a key economic data for the custom integration industry. According to the report, overall housing starts came in at 1,235,000 units on a seasonally adjusted annual rate. This is 5.7% above the revised March rate of 1,168,000…and yet is it also down.

How can starts be both up and down? Read on…

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