After a dramatic double-digit drop in May, June housing starts declined again, with overall starts not only dropping below May’s rate to a nine-month low but also coming in well below the rate in June 2021. Single-family starts in June hit their lowest seasonally adjusted annual rate since July 2020.
A new report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development notes that residential housing construction starts (housing starts) has taken a pretty severe downturn in May with overall starts sliding fully -14.4%. This is yet another indicator of the slowing growth in the housing market, as rising mortgage rates, overall inflation, and high housing prices begin to cool the once red-hot housing market.
See all the details from the latest report on housing starts…[Read more…] about Housing Starts in May Slide -14.4%, Lowest Level of Building in 13-Months
Sales of newly constructed homes virtually collapsed in April in a double-digit decline that surprised economists and added to the growing evidence that the housing market is entering a downturn. This downturn in housing adds to growing concerns of a recession, as it comes on the heels of the tech industry decline, and new retailer warnings of slackening demand and supply chain driven cost increases.
See the surprising numbers out of the housing market today[Read more…] about Sales of Newly Constructed Homes Collapse in April; Odds of Recession Tick Higher
In yet another sign of a slowing economy, April residential housing construction starts declined for the second straight month in a row. At the same time, the Housing Market Index, a key gauge of homebuilder confidence, collapsed in May.
See what’s going on in with housing starts & builders[Read more…] about April Housing Starts Decline Again; Builder Sentiment in Steep Slide in May
In new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, residential housing construction starts dropped 1.6% in September as compared to the previous month’s reading. This rate is the lowest level of housing starts in five months. Also concerning, building permits – a leading indicator of future construction – registered a sharp drop, down 7.7% below the previous month.
See more on housing construction starts[Read more…] about September Housing Construction Starts Drop to a 5-Month Low
In yet another sign that the increasing momentum down the path to economic recovery will still be a very bumpy journey, residential housing construction starts (housing starts) in April showed declines in both the overall reading for all types of homes as well as for single-family homes. While both showed double digit declines in the initial report for April, they are both still well over the readings experienced in April 2020, at the height of the rollout of the COVID-19 pandemic.
See the latest data on housing starts in April[Read more…] about Housing Starts Stall in April
In new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, residential construction – housing starts – appear to have taken off in March, rocketing to nearly 15-year highs. This is welcome news, as a serious shortage of available homes has been constraining housing sales recently. An increase in construction will help add inventory for sale. This shortage emerged after a protracted period of sales growth as urban dwellers left over-crowded cities during the time of COVID-19 for more spacious digs in the suburbs.
See more on the burst of housing starts in March[Read more…] about March Housing Starts Surge Almost 20% to 15-Year High
The 2nd Month of Decline; Is Housing Turning?
In the latest government data on new residential construction, housing starts dropped in February by 10.3%. This is the second month-in-a-row that starts dropped, after falling 6% overall in January.
So what do analysts think this downward cycle means? Is the housing construction segment beginning a period of contraction?
See what is happening in housing starts…[Read more…] about February Housing Starts in Double-Digit Drop
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
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?