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December housing starts fell by -14.2 %

Housing Starts U.S. Economic Indicators


The construction of new homes, as well as the issuance of new building permits declined in December, following gain in previous period.
In December U.S. housing starts dropped by -14.2 % on the seasonally adjusted basis to annual rate of 1,078,000 units, a decrease of 178,000 units from 1,256,000 in November. Most of decline took place in the West and it was concentrated in multi-dwelling buildings such as apartments.

New building retreated -25.3 % to annual rate of 630,000 units in the West while the construction of multi-family units decreased -25.9 % accounting for 29.68 % of total construction. As demand for renting apartments declines.

A healthier housing market, however, would give a big boost to the economy.

In construction of housing units was bellow average rate of 1,060,095 housing starts. Housing starts dropped by -9.6 % from Dec. 2017, as housing starts in the West led the decline.



Housing Starts

  M/M Y/Y
  Northeast -13.71% 21.59 %
  Midwest -19.87% -29.78%
  South -8.30% 8.25 %
  West -25.26% -37.21%
  Single-family -8.01% -9.33%
  2 - 4 units 20.00% 350.00 %
  5 or more units -27.58% -14.20%


Building permits declined by -0.2 % or 2,000 units to an annual rate of 1,078,000 units, from 1,256,000 in November on the seasonally adjusted basis Most of December´s decline in building permits took place in the Midwest and it was concentrated in single-family buildings.

Building permits fell -18.1 % in the Midwest while the permits for single-family houses deteriorated -2.2 % to 758,000 units.

The single-family permits are considered to be the most important number in the government's release.Building permits advanced by 1.8 % for the year




Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 110,000 units, an decrease of 10,000 units, or -8.33 % from 120,000 units Nov. 2018 and an decrease of -32.52 % from 163,000 units Dec. 2017.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 145,000 units, an decrease of 32,000 units, or -18.08 % from 177,000 units Nov. 2018 and an decrease of -27.14 % from 199,000 units Dec. 2017.


  • In West housing units were authorized at seasonally adjusted annual rate of 383,000 units, an increase of 60,000 units, or 18.58 % from 323,000 units Nov. 2018 and an increase of 6.09 % from 361,000 units Dec. 2017.
  • In South housing units were authorized at seasonally adjusted annual rate of 688,000 units, an decrease of 20,000 units, or -2.82 % from 708,000 units Nov. 2018 and an increase of 18.83 % from 579,000 units Dec. 2017.

New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units)
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total
1,326,000 1,328,000 1,263,000 1,241,000 1,249,000
In structures Single-family units
829,000 848,000 849,000 851,000 827,000
In structures with 2 - 4 units
37,000 39,000 38,000 39,000 35,000
In structures with 5 units or more
460,000 441,000 376,000 351,000 387,000
Northeast
110,000 120,000 115,000 92,000 102,000
Midwest
145,000 177,000 187,000 154,000 190,000
South
688,000 708,000 648,000 654,000 650,000
West
383,000 323,000 313,000 341,000 307,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total -0.15 % 5.15 % 1.77 % -0.64 % -4.73 %
In structures Single-family units -2.24 % -0.12 % -0.24 % 2.9 % -4.83 %
In structures with 2 - 4 units -5.13 % 2.63 % -2.56 % 11.43 % 9.38 %
In structures with 5 units or more 4.31 % 17.29 % 7.12 % -9.3 % -5.61 %
Northeast -8.33 % 4.35 % 25 % -9.8 % -19.05 %
Midwest -18.08 % -5.35 % 21.43 % -18.95 % 3.83 %
South -2.82 % 9.26 % -0.92 % 0.62 % -2.69 %
West 18.58 % 3.19 % -8.21 % 11.07 % -8.08 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total 1.84 % 2.31 % -2.62 % 2.14 % -3.92 %
In structures Single-family units -5.9 % -1.62 % 1.19 % 3.91 % 3.38 %
In structures with 2 - 4 units -5.13 % -4.88 % -9.52 % 8.33 % -2.78 %
In structures with 5 units or more 20.42 % 11.65 % -9.62 % -2.5 % -16.59 %
Northeast -32.52 % 4.35 % -8.73 % -22.69 % -4.67 %
Midwest -27.14 % -3.8 % -2.6 % -16.76 % 2.7 %
South 18.83 % 10.28 % 5.71 % 11.79 % 0.62 %
West 6.09 % -9.52 % -14.48 % 4.6 % -15.19 %



New Housing Units Started
(Seasonally adj., at Annual Rate, units)
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total
1,078,000 1,256,000 1,228,000 1,201,000 1,268,000
In structures Single-family units
758,000 824,000 865,000 871,000 879,000
In structures with 2 - 4 units
18,000 15,000 20,000 6,000 17,000
In structures with 5 units or more
302,000 417,000 343,000 324,000 372,000
Northeast
107,000 124,000 87,000 120,000 93,000
Midwest
125,000 156,000 210,000 160,000 186,000
South
630,000 687,000 596,000 567,000 657,000
West
216,000 289,000 335,000 354,000 332,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total -14.17 % 2.28 % 2.25 % -5.28 % 8.56 %
In structures Single-family units -8.01 % -4.74 % -0.69 % -0.91 % 1.97 %
In structures with 2 - 4 units 20 % -25 % 233.33 % -64.71 % 466.67 %
In structures with 5 units or more -27.58 % 21.57 % 5.86 % -12.9 % 22.77 %
Northeast -13.71 % 42.53 % -27.5 % 29.03 % -4.12 %
Midwest -19.87 % -25.71 % 31.25 % -13.98 % 7.51 %
South -8.3 % 15.27 % 5.11 % -13.7 % 3.3 %
West -25.26 % -13.73 % -5.37 % 6.63 % 26.72 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total -9.56 % -3.16 % -4.81 % 6.57 % 7.46 %
In structures Single-family units -9.33 % -11.4 % -1.37 % 5.07 % 3.29 %
In structures with 2 - 4 units 350 % 87.5 % 0 % -50 % 183.33 %
In structures with 5 units or more -14.2 % 16.16 % -12.72 % 13.29 % 15.17 %
Northeast 21.59 % 42.53 % -40 % 21.21 % -11.43 %
Midwest -29.78 % -10.86 % -0.94 % 3.9 % -7 %
South 8.25 % -0.58 % -4.03 % 7.59 % 16.7 %
West -37.21 % -15.99 % 7.37 % 2.02 % 6.41 %



New Housing Units Authorized
(Not seasonally adjusted, units)
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total
95,400 101,700 112,500 96,600 116,900
In structures Single-family units
53,400 60,900 74,200 64,700 78,500
In structures with 2 - 4 units
2,600 3,100 3,600 3,300 3,500
In structures with 5 units or more
39,400 37,700 34,800 28,700 35,000
Northeast
9,100 9,800 10,200 7,800 9,000
Midwest
8,300 14,000 19,700 13,700 19,700
South
49,300 52,700 55,500 49,300 59,800
West
28,600 25,200 27,100 25,900 28,500



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total -6.19 % -9.6 % 16.46 % -17.37 % 2.54 %
In structures Single-family units -12.32 % -17.92 % 14.68 % -17.58 % 1.16 %
In structures with 2 - 4 units -16.13 % -13.89 % 9.09 % -5.71 % 20.69 %
In structures with 5 units or more 4.51 % 8.33 % 21.25 % -18 % 4.48 %
Northeast -7.14 % -3.92 % 30.77 % -13.33 % -20.35 %
Midwest -40.71 % -28.93 % 43.8 % -30.46 % 17.96 %
South -6.45 % -5.05 % 12.58 % -17.56 % 2.75 %
West 13.49 % -7.01 % 4.63 % -9.12 % 2.89 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total 2.36 % 5.39 % 0.36 % -3.88 % -4.65 %
In structures Single-family units -5.49 % -1.3 % 6.3 % -2.41 % 2.61 %
In structures with 2 - 4 units -7.14 % -3.13 % -10 % 3.13 % -5.41 %
In structures with 5 units or more 16.22 % 19.3 % -9.14 % -7.42 % -17.65 %
Northeast -30 % 4.26 % -6.42 % -27.78 % -9.09 %
Midwest -29.06 % -2.1 % 2.6 % -21.71 % 3.68 %
South 18.23 % 14.81 % 6.94 % 8.11 % -0.66 %
West 6.72 % -6.32 % -9.97 % -2.26 % -14.93 %







New Housing Units Started
(Not seas. adj. at Annual Rate, units)
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total
71,700 95,900 107,300 106,100 112,600
In structures Single-family units
49,000 60,300 74,600 74,200 79,600
In structures with 2 - 4 units
1,300 1,300 1,800 600 1,500
In structures with 5 units or more
21,400 34,300 30,900 31,300 31,500
Northeast
7,400 10,000 8,300 11,100 8,400
Midwest
7,100 12,700 20,200 15,600 16,700
South
42,700 51,400 51,200 48,200 58,300
West
14,600 21,800 27,700 31,200 29,200






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total -25.23 % -10.62 % 1.13 % -5.77 % 1.99 %
In structures Single-family units -18.74 % -19.17 % 0.54 % -6.78 % -2.69 %
In structures with 2 - 4 units 0 % -27.78 % 200 % -60 % 400 %
In structures with 5 units or more -37.61 % 11 % -1.28 % -0.63 % 11.31 %
Northeast -26 % 20.48 % -25.23 % 32.14 % -11.58 %
Midwest -44.09 % -37.13 % 29.49 % -6.59 % -5.11 %
South -16.93 % 0.39 % 6.22 % -17.32 % 0 %
West -33.03 % -21.3 % -11.22 % 6.85 % 16.33 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Total -10.71 % -2.54 % -4.45 % 4.74 % 9 %
In structures Single-family units -9.76 % -11.19 % -0.4 % 2.63 % 4.6 %
In structures with 2 - 4 units 333.33 % 85.71 % 0 % -45.45 % 200 %
In structures with 5 units or more -16.73 % 15.1 % -13.2 % 12.19 % 17.98 %
Northeast 19.35 % 42.86 % -38.06 % 21.98 % -10.64 %
Midwest -33.02 % -9.93 % 0 % 3.31 % -5.65 %
South 8.1 % 0.59 % -2.48 % 3.88 % 19.22 %
West -38.91 % -16.79 % 5.73 % 1.63 % 6.57 %

Source U.S. Department of Commerce

             
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