Housing starts drop 9.8%

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I’ve been sounding the alarm about a housing slowdown for a couple of months now. Now, new data on housing, the industry that was a major driver of the last recession, continues to suggest a bearish trend, with new home construction starts dropping a significant 5.3% in the month of September.

SARASOTA / BRADENTON HOUSING 1Q19: Quarterly Housing Starts Slow as. Quarterly new home starts are up 5.5% YoY – Annual starts are up 9.8% over 2017 levels.. The supply of finished vacant housing units has been dropping.

Led by a steep jump in multifamily production, nationwide housing starts rose 9.8% to a seasonally adjusted annual rate of 1.174 million units in June, according to HUB and the commerce department. multifamily production was up 29.4% to a seasonally adjusted annual rate of 489,000 units, while.

Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census Bureau. Privately owned housing starts.

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WASHINGTON (AP) _ Housing starts dropped 2.1 percent in November, the government reported tuesday, all but assuring home builders their worst year since the end of World War II. The housing industry traditionally leads the economy out of recession,

This compares with an initial print of a 9.8% fall to 999,000. Meanwhile. The Northeast however saw housing starts rise a whopping 61.9% to an annualized pace of 136,000 units. Meanwhile, in the.

Housing starts fell 0.9% to a 1.253 million-unit. single-family construction was evident in the West and South, which.

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 · The housing sector improved last month, the Census Bureau just reported, as the number of "housing starts" rose 8.9% from October. At a.

US housing starts dropped 0.9 percent from a month earlier to a seasonally adjusted annual rate of 1,253 thousand units in June 2019, compared to market expectations of 1,261 thousand and following a revised 0.4 percent fall in May. Multi-family homebuilding plunged 9.2 percent while construction of single-family housing units increased 3.5 percent.

Last month’s record-breaking surge in housing starts has rapidly reversed and fell 9.8% MoM – the biggest drop since April 2013. Despite a plethora of revisions, single unit housing starts tumbled to 610k – the lowest since July. However, permits were dismal (which is what we should be caring about if we are looking ahead at how the ‘recovery’ will play out).