Global| May 17 2005Housing Starts Rebounded
by:Tom Moeller
|in:Economy in Brief
Summary
Housing starts rebounded 11.0% in April and recovered about half of the prior month's unrevised 17.6% decline.The rise to 2.038M exceeded Consensus expectations for 1.97M starts. Figures were revised back to 2003. Single-family starts [...]
Housing starts rebounded 11.0% in April and recovered about half of the prior month's unrevised 17.6% decline.The rise to 2.038M exceeded Consensus expectations for 1.97M starts. Figures were revised back to 2003.
Single-family starts gained back just a piece of the prior month's sharp decline with a 6.3% m/m rise. All of the rise was due to a 21.1% (11.4% y/y) increase in the South while single family starts in the Northeast dropped for the third month this year (-12.9% y/y). Single family starts in the Midwest fell 7.6% (-19.1% y/y) and starts in the West were off 4.7% but still up 1.0% y/y.
Multi family starts gained back most of the prior moth's skid with a 35.2% rise.
Building permits rose 5.3%. This first increase in three months was nearly back to the record high.
| Housing Starts (000s, AR) | April | March | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Total | 2,038 | 1,836 | 3.6% | 1,950 | 1,854 | 1,7 10 |
| Single-family | 1,635 | 1,538 | 0.7% | 1,604 | 1,505 | 1,363 |
| Multi-family | 403 | 298 | 17.3% | 345 | 349 | 347 |
| Building Permits | 2,129 | 2,021 | 2.9% | 2,058 | 1,8 88 | 1,749 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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