Global| May 17 2016U.S. Housing Starts Rebound
by:Tom Moeller
|in:Economy in Brief
Summary
Housing starts increased 6.6% (-1.7% y/y) during April to 1.172 million (AR). The gain followed a 9.4% March decline to 1.099 million, revised from 1.089 million. Expectations were for 1.121 million starts in the Action Economics [...]
Housing starts increased 6.6% (-1.7% y/y) during April to 1.172 million (AR). The gain followed a 9.4% March decline to 1.099 million, revised from 1.089 million. Expectations were for 1.121 million starts in the Action Economics Forecast Survey.
Starts of single-family homes increased 3.3% (4.3% y/y) to 778,000 following a 10.9% drop. Multi-family starts, which include apartments & condominiums, increased 13.9% (-11.7% y/y) to 394,000 after a 6.0% fall.
By region, starts in the Midwest rebounded 22.2% (11.3% y/y) followed by a downwardly revised 14.1% rise (18.2% y/y) in the South. In the West, starts declined 10.0% (-24.7% y/y), and in the Northeast starts fell 7.6% (-29.8% y/y).
Permits to build a new home rebounded 3.6% (-5.3% y/y) following four months of decline. Permits to build single-family homes rose 1.5% (8.4% y/y), but multi-family permits recovered 8.0% (-23.8% y/y).
The housing starts and permits figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
| Housing Starts (000s, SAAR) | Apr | Mar | Feb | Apr Y/Y % | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Total | 1,172 | 1,099 | 1,213 | -1.7 | 1,107 | 1,001 | 928 |
| Single-Family | 778 | 753 | 845 | 4.3 | 713 | 648 | 618 |
| Multi-Family | 394 | 346 | 368 | -11.7 | 395 | 356 | 307 |
| Starts By Region | |||||||
| Northeast | 134 | 145 | 80 | -29.8 | 136 | 110 | 97 |
| Midwest | 187 | 153 | 211 | 11.3 | 151 | 163 | 150 |
| South | 616 | 540 | 612 | 18.2 | 555 | 496 | 464 |
| West | 235 | 261 | 310 | -24.7 | 265 | 235 | 215 |
| Building Permits | 1,116 | 1,077 | 1,162 | -5.3 | 1,164 | 1,052 | 991 |
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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