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Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller October 19, 2005
Housing starts remained firm last month and rose 3.4% m/m to 2.108M units.The prior month's figure was revised slightly higher and the September gain far outpaced Consensus expectations for a decline to 1.97M starts.
The Census Bureau indicated that the impact of Hurricane Katrina on the figures was minimal.
Single-family starts rose 2.6% due to 6.2% gains in both the South (14.0% y/y) and in the Midwest (7.3% y/y). In the Northeast, single family starts rose 0.7% (17.2% y/y) and in the West single family starts fell 5.3% (+11.7% y/y).
Multi family starts rose 7.8% m/m after an upwardly revised 1.5% August gain.
Federal Reserve Board Vice-Chairman Roger W. Ferguson's speech on the Economic Outlook for the United States can be found here.
Housing Starts (000s, AR) | Sept | Aug | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Total | 2,108 | 2,038 | 10.3% | 1,950 | 1,854 | 1,710 |
Single-family | 1,747 | 1,703 | 12.3% | 1,604 | 1,505 | 1,363 |
Multi-family | 361 | 335 | 1.1% | 345 | 349 | 347 |
Building Permits | 2,189 | 2,138 | 7.4% | 2,058 | 1,8 88 | 1,749 |