Global| Aug 17 2004July Housing Starts Reverse June Drop
Summary
Housing starts jumped 8.3% last month to 1.978M, almost exactly offsetting their June decline of 7.7% (revised from the initial report of 8.5%). Forecasters anticipated some of the rebound, having projected a 1.89 M total. Single- [...]
Housing starts jumped 8.3% last month to 1.978M, almost exactly offsetting their June decline of 7.7% (revised from the initial report of 8.5%). Forecasters anticipated some of the rebound, having projected a 1.89 M total.
Single-family starts advanced 8.5%, more than countering June's 8.0% fall, an amount which now reflects an upward revision of the originally reported lower June volume.
Multi-family starts regained 7.6%, breaking a three-month string of declines.
Housing starts rose in every major region of the country, with the largest percentage increases in the West, 15.8%, and the Northeast, 15.7%.
Building permits were up 5.7% m/m.
| Housing Starts (000s, AR) | July | June | Y/Y | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|
| Total | 1,978 | 1,826 | -3.5% | 1,848 | 1,705 | 1,601 |
| Single-family | 1,651 | 1,522 | 6.3% | 1,499 | 1,358 | 1,272 |
| Multi-family | 327 | 304 | -8.8% | 349 | 347 | 330 |
| Building Permits | 2,055 | 1945 | 4.3% | 1,831 | 1,748 | 1,637 |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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