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Housing starts on the rise again

Housing Starts U.S. Economic Indicators


U.S. Housing starts on the rise again after dipping in the last month, as a decline in northeast didn't immediately impact the rest of the construction sector.
U.S. housing starts jumped in May by 4.9 % on the seasonally adjusted basis to annual rate of 1,350,000 units, an increase of 63,000 units from 1,287,000 in April, reported by the U.S. Department of Housing and Urban Development. Most of growth took place in the Midwest and it was concentrated in multi-dwelling buildings such as apartments.

New building went up 62.2 % to annual rate of 266,000 units in the Midwest while the construction of multi-family units grew 5.3 % accounting for 30.67 % of total construction. As demand for renting apartments increases.

The government cautions that its monthly housing data are volatile and subject to large sampling and other statistical errors. In most months, the government can't be sure whether starts increased or decreased. From May 2017, housing starts jumped by 23.6 %, in midwest housing starts rose the most, by 58.3 %.



Housing Starts

  M/M Y/Y
  Northeast -10.53% 17.24 %
  Midwest 62.20% 58.33 %
  South -1.51% 24.14 %
  West -4.91% 5.79 %
  Single-family 4.70% 17.88 %
  2 - 4 units -47.37% -28.57%
  5 or more units 8.02% 42.25 %

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Building permits deteriorated by -3.8 % or 51,000 units to an annual rate of 1,350,000 units, from 1,287,000 in April 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 -14.2 % to annual rate of 653,000 units in the South while the permits for multi-family units decreased -7.3 % accounting for 30.67 % of total building permits issued.

Permits indicate whether demand for new homes is growing or slowing. Compare to a year ago monthly building permits jumped by 11.4 %




Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 135,000 units, an increase of 43,000 units, or 46.74 % from 92,000 units April 2018 and an increase of 8.87 % from 124,000 units May 2017.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 209,000 units, an increase of 15,000 units, or 7.73 % from 194,000 units April 2018 and an increase of 20.11 % from 174,000 units May 2017.


  • In West housing units were authorized at seasonally adjusted annual rate of 331,000 units, an decrease of 5,000 units, or -1.49 % from 336,000 units April 2018 and an increase of 12.97 % from 293,000 units May 2017.
  • In South housing units were authorized at seasonally adjusted annual rate of 626,000 units, an decrease of 104,000 units, or -14.25 % from 730,000 units April 2018 and an increase of 8.49 % from 577,000 units May 2017.

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

prel.
April 2018

prel.
March 2018

prel.
Feb. 2018

prel.
Jan. 2018

prel.
Dec. 2017

prel.
Total
1,301,000 1,352,000 1,354,000 1,298,000 1,377,000 1,302,000
In structures Single-family units
844,000 859,000 840,000 872,000 877,000 881,000
In structures with 2 - 4 units
36,000 43,000 41,000 41,000 48,000 39,000
In structures with 5 units or more
421,000 450,000 473,000 385,000 452,000 382,000
Northeast
135,000 92,000 138,000 133,000 118,000 163,000
Midwest
209,000 194,000 205,000 184,000 178,000 199,000
South
626,000 730,000 632,000 614,000 701,000 579,000
West
331,000 336,000 379,000 367,000 380,000 361,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total -3.77 % -0.15 % 4.31 % -5.74 % 5.76 % 0.31 %
In structures Single-family units -1.75 % 2.26 % -3.67 % -0.57 % -0.45 % 2.2 %
In structures with 2 - 4 units -16.28 % 4.88 % 0 % -14.58 % 23.08 % -4.88 %
In structures with 5 units or more -6.44 % -4.86 % 22.86 % -14.82 % 18.32 % -3.29 %
Northeast 46.74 % -33.33 % 3.76 % 12.71 % -27.61 % 41.74 %
Midwest 7.73 % -5.37 % 11.41 % 3.37 % -10.55 % 8.15 %
South -14.25 % 15.51 % 2.93 % -12.41 % 21.07 % -9.81 %
West -1.49 % -11.35 % 3.27 % -3.42 % 5.26 % 1.12 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 11.39 % 10.01 % 7.46 % 7.01 % 7.16 % 7.6 %
In structures Single-family units 8.34 % 8.87 % 2.07 % 4.81 % 8.54 % 7.83 %
In structures with 2 - 4 units 16.13 % 16.22 % 13.89 % -12.77 % 54.84 % 2.63 %
In structures with 5 units or more 17.6 % 11.66 % 17.96 % 15.27 % 1.35 % 7.61 %
Northeast 8.87 % -24.59 % 2.99 % 15.65 % -20.81 % 44.25 %
Midwest 20.11 % 0 % 6.77 % -25.51 % -10.1 % 5.29 %
South 8.49 % 26.52 % 2.1 % 5.86 % 9.19 % 1.94 %
West 12.97 % 0 % 20.32 % 35.42 % 28.38 % 6.18 %



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

prel.
April 2018

prel.
March 2018

prel.
Feb. 2018

prel.
Jan. 2018

prel.
Dec. 2017

prel.
Total
1,350,000 1,287,000 1,319,000 1,236,000 1,329,000 1,192,000
In structures Single-family units
936,000 894,000 867,000 902,000 877,000 836,000
In structures with 2 - 4 units
10,000 19,000 13,000 17,000 12,000 4,000
In structures with 5 units or more
404,000 374,000 439,000 317,000 440,000 352,000
Northeast
102,000 114,000 132,000 109,000 113,000 88,000
Midwest
266,000 164,000 180,000 155,000 144,000 178,000
South
653,000 663,000 621,000 633,000 683,000 582,000
West
329,000 346,000 386,000 339,000 389,000 344,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 4.9 % -2.43 % 6.72 % -7 % 11.49 % -8.1 %
In structures Single-family units 4.7 % 3.11 % -3.88 % 2.85 % 4.9 % -10.11 %
In structures with 2 - 4 units -47.37 % 46.15 % -23.53 % 41.67 % 200 % -50 %
In structures with 5 units or more 8.02 % -14.81 % 38.49 % -27.95 % 25 % -1.95 %
Northeast -10.53 % -13.64 % 21.1 % -3.54 % 28.41 % 1.15 %
Midwest 62.2 % -8.89 % 16.13 % 7.64 % -19.1 % 1.71 %
South -1.51 % 6.76 % -1.9 % -7.32 % 17.35 % -15.77 %
West -4.91 % -10.36 % 13.86 % -12.85 % 13.08 % 0 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 23.63 % 15.01 % 8.56 % -4.04 % 6.66 % -2.77 %
In structures Single-family units 17.88 % 22.13 % 5.6 % 3.44 % 6.56 % 5.16 %
In structures with 2 - 4 units -28.57 % 280 % 44.44 % -15 % 500 % -71.43 %
In structures with 5 units or more 42.25 % -2.09 % 14.03 % -19.95 % 4.51 % -15.59 %
Northeast 17.24 % 42.5 % 0.76 % -8.4 % -20.98 % -8.33 %
Midwest 58.33 % -13.68 % 16.13 % -17.11 % -23.4 % -21.59 %
South 24.14 % 13.53 % -3.72 % -3.95 % -1.01 % 1.75 %
West 5.79 % 30.57 % 35.92 % 4.95 % 72.89 % 3.93 %



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

prel.
April 2018

prel.
March 2018

prel.
Feb. 2018

prel.
Jan. 2018

prel.
Dec. 2017

prel.
Total
124,900 118,600 115,300 90,500 96,700 93,200
In structures Single-family units
84,400 78,600 74,800 61,100 61,800 56,500
In structures with 2 - 4 units
3,200 3,500 3,300 2,700 3,200 2,800
In structures with 5 units or more
37,300 36,500 37,200 26,700 31,700 33,900
Northeast
13,600 7,500 10,800 7,400 7,500 13,000
Midwest
21,600 18,000 16,100 9,500 9,200 11,700
South
58,500 64,300 55,400 47,300 53,700 41,700
West
31,300 28,800 33,000 26,400 26,300 26,800



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 5.31 % 2.86 % 27.4 % -6.41 % 3.76 % -3.42 %
In structures Single-family units 7.38 % 5.08 % 22.42 % -1.13 % 9.38 % -8.43 %
In structures with 2 - 4 units -8.57 % 6.06 % 22.22 % -15.63 % 14.29 % -12.5 %
In structures with 5 units or more 2.19 % -1.88 % 39.33 % -15.77 % -6.49 % 7.28 %
Northeast 81.33 % -30.56 % 45.95 % -1.33 % -42.31 % 38.3 %
Midwest 20 % 11.8 % 69.47 % 3.26 % -21.37 % -18.18 %
South -9.02 % 16.06 % 17.12 % -11.92 % 28.78 % -9.15 %
West 8.68 % -12.73 % 25 % 0.38 % -1.87 % -0.37 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 10.63 % 15.26 % 3.04 % 7.1 % 11.41 % 3.56 %
In structures Single-family units 7.79 % 13.91 % -2.48 % 5.71 % 14.66 % 3.48 %
In structures with 2 - 4 units 10.34 % 29.63 % 6.45 % -12.9 % 52.38 % 0 %
In structures with 5 units or more 17.67 % 16.99 % 15.89 % 13.14 % 2.92 % 3.99 %
Northeast 14.29 % -24.24 % 1.89 % 17.46 % -22.68 % 41.3 %
Midwest 19.34 % 5.88 % 1.9 % -25.78 % -8.91 % 1.74 %
South 7.34 % 33.68 % -1.77 % 3.96 % 11.64 % -2.34 %
West 10.21 % 3.23 % 13.4 % 32 % 39.89 % 1.13 %







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

prel.
April 2018

prel.
March 2018

prel.
Feb. 2018

prel.
Jan. 2018

prel.
Dec. 2017

prel.
Total
124,900 117,600 106,900 85,900 90,200 80,300
In structures Single-family units
88,300 84,300 71,500 62,700 58,000 54,300
In structures with 2 - 4 units
900 1,600 1,100 1,100 900 300
In structures with 5 units or more
35,700 31,700 34,300 22,100 31,300 25,700
Northeast
9,500 10,100 10,100 6,500 7,300 6,200
Midwest
26,400 15,300 12,800 8,300 7,200 10,600
South
58,600 60,600 52,300 46,800 49,500 39,500
West
30,400 31,600 31,800 24,300 26,200 23,900






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 6.21 % 10.01 % 24.45 % -4.77 % 12.33 % -18.39 %
In structures Single-family units 4.74 % 17.9 % 14.04 % 8.1 % 6.81 % -20.03 %
In structures with 2 - 4 units -43.75 % 45.45 % 0 % 22.22 % 200 % -57.14 %
In structures with 5 units or more 12.62 % -7.58 % 55.2 % -29.39 % 21.79 % -13.76 %
Northeast -5.94 % 0 % 55.38 % -10.96 % 17.74 % -11.43 %
Midwest 72.55 % 19.53 % 54.22 % 15.28 % -32.08 % -24.82 %
South -3.3 % 15.87 % 11.75 % -5.45 % 25.32 % -22.7 %
West -3.8 % -0.63 % 30.86 % -7.25 % 9.62 % -8.78 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
May 2018
prel.
April 2018
prel.
March 2018
prel.
Feb. 2018
prel.
Jan. 2018
prel.
Dec. 2017
prel.
Total 22.09 % 10.32 % 8.53 % -1.38 % 9.33 % -3.37 %
In structures Single-family units 14.97 % 8.08 % 4.08 % 7.18 % 7.81 % 4.22 %
In structures with 2 - 4 units -25 % 100 % 57.14 % -21.43 % 800 % -66.67 %
In structures with 5 units or more 46.91 % 14.03 % 17.87 % -18.75 % 9.44 % -14.62 %
Northeast 18.75 % 40.28 % 1 % -7.14 % -19.78 % -10.14 %
Midwest 55.29 % -21.13 % 17.43 % -11.7 % -25.77 % -26.39 %
South 20.08 % 14.99 % -3.86 % -2.5 % 1.64 % 0.25 %
West 6.67 % 15.75 % 37.07 % 7.52 % 74.67 % 6.22 %

Source U.S. Department of Commerce
     
       
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