Recent Updates

  • Canada Regional: Wholesale Trade by Province (Jul)
  • US: FRB Chicago National Activity Index (Aug)
  • Canada: Wholesale Trade (Jul)
  • Mauritius: IP (Q2); Turkey: Business Tendency Survey (Sep), Capacity Utilization Rates (Sep)
  • UK: CBI Industrial Trends Survey (Sep)
  • Slovenia: Confidence Indicators, Business Tendency in Construction (Sep); Croatia: Construction Work Indexes (Jul); Kazakhstan: Banking Survey, Money Supply,
  • more updates...

Economy in Brief

U.S. Housing Starts Stutter But Permits Gain
by Tom Moeller  March 20, 2012

Housing starts fell last month by 1.1% (+34.7% y/y) to 698,000 from a revised 706,000 in January, initially reported as 699,000. Expectations had been for 697,000 starts for February. The performance amongst regions was mixed. Starts in the Northeast and the West both fell and reversed most of their January increases. Starts in the Midwest and the South both rose, the latter to a recovery high.

Lower starts of single-family homes accounted for the total's decline. The 9.9% m/m drop to 457,000 erased the gains of the prior two months. Starts in the multi-family area rose 21.1% to 241,000, nearly the highest since September 2008.

Building permits rose 5.1% m/m during February to 717,000. The one-third y/y rise was to the highest since October 2008. Single-family permits rose 4.9% (23.6% y/y). Multi-family permits increased 5.6% and by nearly two-thirds y/y.

The housing starts figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.

Foreclosures and the Housing Market is yesterday's House Testimony by Suzanne G. Killian from the Fed's Division of Consumer & Community Affairs. It can be found here.

Housing Starts (000s, SAAR) Feb Jan Dec Y/Y % 2011 2010 2009
Total 698 706 681 34.7 611 585 554
 Single-Family 457 507 505 17.8 434 471 442
 Multi-Family 241 199 176 85.4 177 114 112
Starts By Region
 Northeast 64 73 62 16.4 68 72 61
 Midwest 103 100 167 63.5 103 97 95
 South 404 398 327 30.3 309 296 281
 West 127 135 125 41.1 131 120 117
Building Permits 717 682 671 34.3 606 603 582
close
large image