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February housing starts fell by -7.0 %
Housing Starts U.S. Economic Indicators
The construction of new homes, as well as the issuance of new building permits declined in February, following very solid January report.
In February U.S. housing starts dropped by -7.0 % on the seasonally adjusted basis to annual rate of 1,236,000 units, a decrease of 93,000 units from 1,329,000 in January. Investors are not too upset by the drop. They noted that most of February´s decline took place in the West and was due to drop in the volatile multifamily sector.
Good news came from the construction of single-family homes with 2.9 % increase, economists see a shift in the demand towards higher value homes.
New building retreated -12.9 % to annual rate of 155,000 units in the West while the construction of multi-family units decreased -26.1 % accounting for 27.02 % 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 986,607 housing starts. Construction of new homes in U.S. dropped by -4.0 % from Feb. 2017, home construction in the Midwest decreased the most, by -17.1 %.
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Permits dropped by -5.7 % or 79,000 units to an annual rate of 1,236,000 units, from 1,329,000 in January on the seasonally adjusted basis Demand for building permits fell the most in the South and it was concentrated in multi-dwelling buildings such as apartments.
The issuance of new permits declined -12.4 % to annual rate of 633,000 units in the South while the permits for multi-family units decreased -14.8 % accounting for 27.02 % of total building permits issued.
Permits indicate whether demand for new homes is growing or slowing. Over the past 12 months, monthly building permits grew by 7.0 %
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| Permits By Region |
- In Northeast
housing units were authorized at seasonally adjusted annual rate of 133,000
units, an
increase of 15,000
units,
or 12.71 % from 118,000
units Jan. 2018 and an
increase of 15.65 % from 115,000
units Feb. 2017.
- In
Midwest housing units were authorized at seasonally
adjusted annual rate of 184,000
units, an
increase of
6,000
units,
or
3.37 % from 178,000
units Jan. 2018 and an
decrease of
-25.51 % from 247,000
units Feb. 2017.
- In
West housing units were authorized at seasonally adjusted
annual rate of 367,000
units, an
decrease of
13,000
units,
or
-3.42 % from 380,000
units Jan. 2018 and an
increase of
35.42 % from 271,000
units Feb. 2017.
|
- In
South housing units were authorized at seasonally adjusted annual rate of 614,000
units, an
decrease of 87,000
units,
or -12.41 % from 701,000
units Jan. 2018 and an
increase of 5.86 % from 580,000
units Feb. 2017.
|
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
|
1,298,000 |
1,377,000 |
1,302,000 |
1,298,000 |
1,297,000 |
1,215,000 |
| In structures Single-family units |
|
872,000 |
877,000 |
881,000 |
862,000 |
839,000 |
819,000 |
| In structures with 2 - 4 units |
|
41,000 |
48,000 |
39,000 |
41,000 |
42,000 |
36,000 |
| In structures with 5 units or more |
|
385,000 |
452,000 |
382,000 |
395,000 |
416,000 |
360,000 |
| Northeast |
|
133,000 |
118,000 |
163,000 |
115,000 |
126,000 |
119,000 |
| Midwest |
|
184,000 |
178,000 |
199,000 |
184,000 |
192,000 |
185,000 |
| South |
|
614,000 |
701,000 |
579,000 |
642,000 |
613,000 |
585,000 |
| West |
|
367,000 |
380,000 |
361,000 |
357,000 |
366,000 |
326,000 |
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
-5.74 % |
5.76 % |
0.31 % |
0.08 % |
6.75 % |
-6.54 % |
| In structures Single-family units |
-0.57 % |
-0.45 % |
2.2 % |
2.74 % |
2.44 % |
2.38 % |
| In structures with 2 - 4 units |
-14.58 % |
23.08 % |
-4.88 % |
-2.38 % |
16.67 % |
0 % |
| In structures with 5 units
or more |
-14.82 % |
18.32 % |
-3.29 % |
-5.05 % |
15.56 % |
-22.41 % |
| Northeast |
12.71 % |
-27.61 % |
41.74 % |
-8.73 % |
5.88 % |
11.21 % |
| Midwest |
3.37 % |
-10.55 % |
8.15 % |
-4.17 % |
3.78 % |
0 % |
| South |
-12.41 % |
21.07 % |
-9.81 % |
4.73 % |
4.79 % |
-9.44 % |
| West |
-3.42 % |
5.26 % |
1.12 % |
-2.46 % |
12.27 % |
-9.94 % |
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
7.01 % |
7.16 % |
7.6 % |
7.1 % |
2.94 % |
-0.82 % |
| In structures Single-family units |
4.81 % |
8.54 % |
7.83 % |
10.51 % |
8.4 % |
10.83 % |
| In structures with 2 - 4 units |
-12.77 % |
54.84 % |
2.63 % |
10.81 % |
40 % |
-2.7 % |
| In structures with 5 units
or more |
15.27 % |
1.35 % |
7.61 % |
0 % |
-8.77 % |
-19.82 % |
| Northeast |
15.65 % |
-20.81 % |
44.25 % |
4.55 % |
17.76 % |
-9.16 % |
| Midwest |
-25.51 % |
-10.1 % |
5.29 % |
-2.13 % |
-6.8 % |
0.54 % |
| South |
5.86 % |
9.19 % |
1.94 % |
9.74 % |
1.83 % |
-1.52 % |
| West |
35.42 % |
28.38 % |
6.18 % |
8.51 % |
6.09 % |
3.16 % |
New Housing Units Started
(Seasonally adj., at Annual Rate, units) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
|
1,236,000 |
1,329,000 |
1,192,000 |
1,297,000 |
1,290,000 |
1,127,000 |
| In structures Single-family units |
|
902,000 |
877,000 |
836,000 |
930,000 |
877,000 |
829,000 |
| In structures with 2 - 4 units |
|
17,000 |
12,000 |
4,000 |
8,000 |
20,000 |
12,000 |
| In structures with 5 units or more |
|
317,000 |
440,000 |
352,000 |
359,000 |
393,000 |
286,000 |
| Northeast |
|
109,000 |
113,000 |
88,000 |
87,000 |
145,000 |
99,000 |
| Midwest |
|
155,000 |
144,000 |
178,000 |
175,000 |
212,000 |
154,000 |
| South |
|
633,000 |
683,000 |
582,000 |
691,000 |
621,000 |
527,000 |
| West |
|
339,000 |
389,000 |
344,000 |
344,000 |
312,000 |
347,000 |
New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
-7 % |
11.49 % |
-8.1 % |
0.54 % |
14.46 % |
-4.49 % |
| In structures Single-family units |
2.85 % |
4.9 % |
-10.11 % |
6.04 % |
5.79 % |
-2.59 % |
| In structures with 2 - 4 units |
41.67 % |
200 % |
-50 % |
-60 % |
66.67 % |
100 % |
| In structures with 5 units
or more |
-27.95 % |
25 % |
-1.95 % |
-8.65 % |
37.41 % |
-11.46 % |
| Northeast |
-3.54 % |
28.41 % |
1.15 % |
-40 % |
46.46 % |
-5.71 % |
| Midwest |
7.64 % |
-19.1 % |
1.71 % |
-17.45 % |
37.66 % |
-23 % |
| South |
-7.32 % |
17.35 % |
-15.77 % |
11.27 % |
17.84 % |
-6.39 % |
| West |
-12.85 % |
13.08 % |
0 % |
10.26 % |
-10.09 % |
11.22 % |
New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
-4.04 % |
6.66 % |
-2.77 % |
5.79 % |
-3.73 % |
7.64 % |
| In structures Single-family units |
3.44 % |
6.56 % |
5.16 % |
16.98 % |
1.62 % |
5.87 % |
| In structures with 2 - 4 units |
-15 % |
500 % |
-71.43 % |
-42.86 % |
33.33 % |
-14.29 % |
| In structures with 5 units
or more |
-19.95 % |
4.51 % |
-15.59 % |
-13.91 % |
-14.94 % |
14.4 % |
| Northeast |
-8.4 % |
-20.98 % |
-8.33 % |
-9.38 % |
-13.17 % |
13.79 % |
| Midwest |
-17.11 % |
-23.4 % |
-21.59 % |
-22.91 % |
3.92 % |
5.48 % |
| South |
-3.95 % |
-1.01 % |
1.75 % |
20.8 % |
-0.64 % |
-0.94 % |
| West |
4.95 % |
72.89 % |
3.93 % |
3.93 % |
-9.3 % |
23.05 % |
New Housing Units Authorized
(Not seasonally adjusted, units) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
|
90,500 |
96,700 |
93,200 |
96,500 |
112,100 |
100,500 |
| In structures Single-family units |
|
61,100 |
61,800 |
56,500 |
61,700 |
69,800 |
66,300 |
| In structures with 2 - 4 units |
|
2,700 |
3,200 |
2,800 |
3,200 |
4,000 |
3,200 |
| In structures with 5 units or more |
|
26,700 |
31,700 |
33,900 |
31,600 |
38,300 |
31,000 |
| Northeast |
|
7,400 |
7,500 |
13,000 |
9,400 |
10,900 |
10,800 |
| Midwest |
|
9,500 |
9,200 |
11,700 |
14,300 |
19,200 |
17,500 |
| South |
|
47,300 |
53,700 |
41,700 |
45,900 |
51,900 |
45,600 |
| West |
|
26,400 |
26,300 |
26,800 |
26,900 |
30,100 |
26,500 |
New Housing Units Authorized
(Not seasonally adjusted, in Y / Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
-6.41 % |
3.76 % |
-3.42 % |
-13.92 % |
11.54 % |
-18.03 % |
| In structures Single-family units |
-1.13 % |
9.38 % |
-8.43 % |
-11.6 % |
5.28 % |
-13.33 % |
| In structures with 2 - 4 units |
-15.63 % |
14.29 % |
-12.5 % |
-20 % |
25 % |
-13.51 % |
| In structures with 5 units
or more |
-15.77 % |
-6.49 % |
7.28 % |
-17.49 % |
23.55 % |
-27.06 % |
| Northeast |
-1.33 % |
-42.31 % |
38.3 % |
-13.76 % |
0.93 % |
9.09 % |
| Midwest |
3.26 % |
-21.37 % |
-18.18 % |
-25.52 % |
9.71 % |
-7.89 % |
| South |
-11.92 % |
28.78 % |
-9.15 % |
-11.56 % |
13.82 % |
-24.25 % |
| West |
0.38 % |
-1.87 % |
-0.37 % |
-10.63 % |
13.58 % |
-20.9 % |
New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
7.1 % |
11.41 % |
3.56 % |
7.22 % |
11.32 % |
-6.6 % |
| In structures Single-family units |
5.71 % |
14.66 % |
3.48 % |
13 % |
13.31 % |
5.41 % |
| In structures with 2 - 4 units |
-12.9 % |
52.38 % |
0 % |
14.29 % |
60 % |
-8.57 % |
| In structures with 5 units
or more |
13.14 % |
2.92 % |
3.99 % |
-3.07 % |
4.64 % |
-24.76 % |
| Northeast |
17.46 % |
-22.68 % |
41.3 % |
2.17 % |
23.86 % |
-10 % |
| Midwest |
-25.78 % |
-8.91 % |
1.74 % |
24.35 % |
0.52 % |
-6.42 % |
| South |
3.96 % |
11.64 % |
-2.34 % |
7.49 % |
11.13 % |
-8.98 % |
| West |
32 % |
39.89 % |
1.13 % |
1.51 % |
15.77 % |
-1.12 % |
New Housing Units Started
(Not seas. adj. at Annual Rate, units) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
|
85,900 |
90,200 |
80,300 |
98,400 |
112,300 |
101,300 |
| In structures Single-family units |
|
62,700 |
58,000 |
54,300 |
67,900 |
74,900 |
72,300 |
| In structures with 2 - 4 units |
|
1,100 |
900 |
300 |
700 |
1,800 |
1,100 |
| In structures with 5 units or more |
|
22,100 |
31,300 |
25,700 |
29,800 |
35,600 |
27,900 |
| Northeast |
|
6,500 |
7,300 |
6,200 |
7,000 |
13,400 |
9,100 |
| Midwest |
|
8,300 |
7,200 |
10,600 |
14,100 |
20,200 |
15,100 |
| South |
|
46,800 |
49,500 |
39,500 |
51,100 |
52,500 |
46,400 |
| West |
|
24,300 |
26,200 |
23,900 |
26,200 |
26,200 |
30,700 |
New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
-4.77 % |
12.33 % |
-18.39 % |
-12.38 % |
10.86 % |
-1.94 % |
| In structures Single-family units |
8.1 % |
6.81 % |
-20.03 % |
-9.35 % |
3.6 % |
-4.99 % |
| In structures with 2 - 4 units |
22.22 % |
200 % |
-57.14 % |
-61.11 % |
63.64 % |
120 % |
| In structures with 5 units
or more |
-29.39 % |
21.79 % |
-13.76 % |
-16.29 % |
27.6 % |
4.49 % |
| Northeast |
-10.96 % |
17.74 % |
-11.43 % |
-47.76 % |
47.25 % |
-3.19 % |
| Midwest |
15.28 % |
-32.08 % |
-24.82 % |
-30.2 % |
33.77 % |
-14.69 % |
| South |
-5.45 % |
25.32 % |
-22.7 % |
-2.67 % |
13.15 % |
-5.11 % |
| West |
-7.25 % |
9.62 % |
-8.78 % |
0 % |
-14.66 % |
12.04 % |
New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y) |
Feb. 2018
prel. |
Jan. 2018
prel. |
Dec. 2017
prel. |
Nov. 2017
prel. |
Oct. 2017
prel. |
Sep. 2017
prel. |
| Total |
-1.38 % |
9.33 % |
-3.37 % |
18.41 % |
-2.94 % |
6.86 % |
| In structures Single-family units |
7.18 % |
7.81 % |
4.22 % |
30.33 % |
3.03 % |
6.32 % |
| In structures with 2 - 4 units |
-21.43 % |
800 % |
-66.67 % |
-22.22 % |
38.46 % |
-21.43 % |
| In structures with 5 units
or more |
-18.75 % |
9.44 % |
-14.62 % |
-1 % |
-14.63 % |
9.84 % |
| Northeast |
-7.14 % |
-19.78 % |
-10.14 % |
1.45 % |
-12.42 % |
12.35 % |
| Midwest |
-11.7 % |
-25.77 % |
-26.39 % |
-2.08 % |
5.21 % |
3.42 % |
| South |
-2.5 % |
1.64 % |
0.25 % |
29.7 % |
0 % |
-0.85 % |
| West |
7.52 % |
74.67 % |
6.22 % |
16.44 % |
-8.71 % |
21.34 % |
Source U.S. Department of Commerce
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