Housing Starts U.S. Economic Indicators
U.S. housing starts jumped in May by 4.3 % on the seasonally adjusted basis to annual rate of 974,000 units, an increase of 40,000 units from 934,000 in April, reported by the U.S. Department of Housing and Urban Development. With housing starts rising across the board, growth became evident in multi-family housing as well, as in construction of single-family homes, while overall housing starts in midwest declined.
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.
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Permits have rebounded from decline in previous period, permits grew in double digits by 14.4 % or 154,000 units to an annual rate of 974,000 units, from 934,000 in April on the seasonally adjusted basis Most of growth took place in the Northeast and it was concentrated in multi-dwelling buildings such as apartments.
New permits went up 82.0 % to annual rate of 479,000 units in the Northeast while permits for multi-family units grew 18.8 % accounting for 30.7 % of total permits issued.
Permits give an indication of whether demand for new homes is growing or slowing.Building permits dropped by -5.7 % from May 2019
Housing starts dropped by -23.2 % from May 2019, as housing starts in the South fell the most, by -32.0 %.
|
| Permits By Region |
- In Northeast
housing units were authorized at seasonally adjusted annual rate of 111,000
units, an
increase of 50,000
units,
or 81.97 % from 61,000
units April 2020 and an
increase of 20.65 % from 92,000
units May 2019.
- In
Midwest housing units were authorized at seasonally
adjusted annual rate of 167,000
units, an
increase of
26,000
units,
or
18.44 % from 141,000
units April 2020 and an
decrease of
-4.02 % from 174,000
units May 2019.
- In
West housing units were authorized at seasonally adjusted
annual rate of 283,000
units, an
increase of
31,000
units,
or
12.30 % from 252,000
units April 2020 and an
decrease of
-15.52 % from 335,000
units May 2019.
|
- In
South housing units were authorized at seasonally adjusted annual rate of 659,000
units, an
increase of 47,000
units,
or 7.68 % from 612,000
units April 2020 and an
decrease of -4.91 % from 693,000
units May 2019.
|
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
|
1,220,000 |
1,066,000 |
1,353,000 |
1,452,000 |
1,551,000 |
| In structures Single-family units |
|
745,000 |
666,000 |
884,000 |
1,005,000 |
987,000 |
| In structures with 2 - 4 units |
|
41,000 |
33,000 |
46,000 |
45,000 |
42,000 |
| In structures with 5 units or more |
|
434,000 |
367,000 |
423,000 |
402,000 |
522,000 |
| Northeast |
|
111,000 |
61,000 |
122,000 |
132,000 |
183,000 |
| Midwest |
|
167,000 |
141,000 |
178,000 |
204,000 |
225,000 |
| South |
|
659,000 |
612,000 |
712,000 |
735,000 |
745,000 |
| West |
|
283,000 |
252,000 |
341,000 |
381,000 |
398,000 |
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
14.45 % |
-21.21 % |
-6.82 % |
-6.38 % |
9.53 % |
| In structures Single-family units |
11.86 % |
-24.66 % |
-12.04 % |
1.82 % |
7.75 % |
| In structures with 2 - 4 units |
24.24 % |
-28.26 % |
2.22 % |
7.14 % |
0 % |
| In structures with 5 units
or more |
18.26 % |
-13.24 % |
5.22 % |
-22.99 % |
13.97 % |
| Northeast |
81.97 % |
-50 % |
-7.58 % |
-27.87 % |
36.57 % |
| Midwest |
18.44 % |
-20.79 % |
-12.75 % |
-9.33 % |
8.7 % |
| South |
7.68 % |
-14.04 % |
-3.13 % |
-1.34 % |
8.28 % |
| West |
12.3 % |
-26.1 % |
-10.5 % |
-4.27 % |
2.84 % |
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
-5.72 % |
-17.75 % |
6.62 % |
12.04 % |
17.77 % |
| In structures Single-family units |
-8.59 % |
-14.83 % |
9.41 % |
22.41 % |
20.22 % |
| In structures with 2 - 4 units |
10.81 % |
-29.79 % |
27.78 % |
25 % |
-4.55 % |
| In structures with 5 units
or more |
-1.81 % |
-21.41 % |
-0.47 % |
-8.43 % |
15.49 % |
| Northeast |
20.65 % |
-49.17 % |
0 % |
-3.65 % |
35.56 % |
| Midwest |
-4.02 % |
-25 % |
-3.78 % |
8.51 % |
20.97 % |
| South |
-4.91 % |
-5.7 % |
10.56 % |
7.61 % |
13.39 % |
| West |
-15.52 % |
-25.66 % |
7.23 % |
32.29 % |
17.4 % |
New Housing Units Started
(Seasonally adj., at Annual Rate, units) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
|
974,000 |
934,000 |
1,216,000 |
1,564,000 |
1,567,000 |
| In structures Single-family units |
|
675,000 |
674,000 |
856,000 |
1,037,000 |
1,010,000 |
| In structures with 2 - 4 units |
|
8,000 |
11,000 |
13,000 |
16,000 |
10,000 |
| In structures with 5 units or more |
|
291,000 |
249,000 |
347,000 |
511,000 |
547,000 |
| Northeast |
|
53,000 |
47,000 |
69,000 |
120,000 |
178,000 |
| Midwest |
|
133,000 |
135,000 |
153,000 |
195,000 |
180,000 |
| South |
|
479,000 |
570,000 |
693,000 |
881,000 |
778,000 |
| West |
|
309,000 |
182,000 |
301,000 |
368,000 |
431,000 |
New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
4.28 % |
-23.19 % |
-22.25 % |
-0.19 % |
-2.55 % |
| In structures Single-family units |
0.15 % |
-21.26 % |
-17.45 % |
2.67 % |
-4.27 % |
| In structures with 2 - 4 units |
-27.27 % |
-15.38 % |
-18.75 % |
60 % |
-41.18 % |
| In structures with 5 units
or more |
16.87 % |
-28.24 % |
-32.09 % |
-6.58 % |
2.05 % |
| Northeast |
12.77 % |
-31.88 % |
-42.5 % |
-32.58 % |
33.83 % |
| Midwest |
-1.48 % |
-11.76 % |
-21.54 % |
8.33 % |
-29.13 % |
| South |
-15.96 % |
-17.75 % |
-21.34 % |
13.24 % |
-3.95 % |
| West |
69.78 % |
-39.53 % |
-18.21 % |
-14.62 % |
4.87 % |
New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
-23.25 % |
-24.37 % |
6.76 % |
34.6 % |
23.1 % |
| In structures Single-family units |
-17.68 % |
-21.08 % |
9.04 % |
28.82 % |
4.12 % |
| In structures with 2 - 4 units |
-38.46 % |
-50 % |
-23.53 % |
220 % |
-44.44 % |
| In structures with 5 units
or more |
-33.26 % |
-30.64 % |
2.97 % |
45.17 % |
91.93 % |
| Northeast |
-27.4 % |
-67.36 % |
-19.77 % |
22.45 % |
28.06 % |
| Midwest |
-16.88 % |
-27.42 % |
16.79 % |
21.12 % |
41.73 % |
| South |
-31.96 % |
-1.89 % |
14.74 % |
32.88 % |
9.42 % |
| West |
-6.93 % |
-43.83 % |
-5.35 % |
53.33 % |
45.61 % |
New Housing Units Authorized
(Not seasonally adjusted, units) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
|
105,100 |
96,000 |
116,000 |
100,200 |
113,000 |
| In structures Single-family units |
|
66,100 |
63,300 |
78,300 |
70,800 |
70,400 |
| In structures with 2 - 4 units |
|
3,300 |
2,800 |
4,000 |
3,200 |
3,000 |
| In structures with 5 units or more |
|
35,700 |
29,800 |
33,700 |
26,200 |
39,600 |
| Northeast |
|
9,300 |
4,900 |
9,600 |
7,900 |
12,400 |
| Midwest |
|
15,700 |
13,800 |
14,000 |
10,300 |
12,500 |
| South |
|
55,800 |
54,600 |
62,700 |
55,100 |
59,900 |
| West |
|
24,200 |
22,700 |
29,600 |
26,900 |
28,200 |
New Housing Units Authorized
(Not seasonally adjusted, in Y / Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
9.48 % |
-17.24 % |
15.77 % |
-11.33 % |
5.31 % |
| In structures Single-family units |
4.42 % |
-19.16 % |
10.59 % |
0.57 % |
12.82 % |
| In structures with 2 - 4 units |
17.86 % |
-30 % |
25 % |
6.67 % |
-6.25 % |
| In structures with 5 units
or more |
19.8 % |
-11.57 % |
28.63 % |
-33.84 % |
-5.04 % |
| Northeast |
89.8 % |
-48.96 % |
21.52 % |
-36.29 % |
5.98 % |
| Midwest |
13.77 % |
-1.43 % |
35.92 % |
-17.6 % |
-3.1 % |
| South |
2.2 % |
-12.92 % |
13.79 % |
-8.01 % |
15.64 % |
| West |
6.61 % |
-23.31 % |
10.04 % |
-4.61 % |
-8.74 % |
New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
-15.24 % |
-19.53 % |
11.65 % |
11.09 % |
19.7 % |
| In structures Single-family units |
-18.6 % |
-15.94 % |
14.81 % |
22.7 % |
21.17 % |
| In structures with 2 - 4 units |
0 % |
-33.33 % |
42.86 % |
23.08 % |
-3.23 % |
| In structures with 5 units
or more |
-9.39 % |
-25.13 % |
2.74 % |
-12.67 % |
18.92 % |
| Northeast |
4.49 % |
-51 % |
4.35 % |
-2.47 % |
36.26 % |
| Midwest |
-13.26 % |
-25 % |
0.72 % |
6.19 % |
25 % |
| South |
-14.55 % |
-8.08 % |
15.47 % |
5.76 % |
16.76 % |
| West |
-23.42 % |
-27.71 % |
11.7 % |
32.51 % |
17.01 % |
New Housing Units Started
(Not seas. adj. at Annual Rate, units) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
|
89,300 |
84,800 |
100,100 |
111,300 |
109,100 |
| In structures Single-family units |
|
62,600 |
62,600 |
71,700 |
72,900 |
68,600 |
| In structures with 2 - 4 units |
|
700 |
900 |
1,100 |
1,200 |
700 |
| In structures with 5 units or more |
|
26,000 |
21,300 |
27,300 |
37,200 |
39,800 |
| Northeast |
|
4,800 |
4,200 |
5,200 |
7,500 |
12,300 |
| Midwest |
|
13,300 |
12,400 |
10,700 |
10,600 |
9,300 |
| South |
|
42,800 |
51,300 |
58,900 |
67,000 |
57,500 |
| West |
|
28,400 |
16,900 |
25,300 |
26,200 |
30,100 |
New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
5.31 % |
-15.28 % |
-10.06 % |
2.02 % |
0.55 % |
| In structures Single-family units |
0 % |
-12.69 % |
-1.65 % |
6.27 % |
0 % |
| In structures with 2 - 4 units |
-22.22 % |
-18.18 % |
-8.33 % |
71.43 % |
-41.67 % |
| In structures with 5 units
or more |
22.07 % |
-21.98 % |
-26.61 % |
-6.53 % |
2.84 % |
| Northeast |
14.29 % |
-19.23 % |
-30.67 % |
-39.02 % |
32.26 % |
| Midwest |
7.26 % |
15.89 % |
0.94 % |
13.98 % |
-37.58 % |
| South |
-16.57 % |
-12.9 % |
-12.09 % |
16.52 % |
1.95 % |
| West |
68.05 % |
-33.2 % |
-3.44 % |
-12.96 % |
7.89 % |
New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y) |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
Jan. 2020
prel. |
| Total |
-24.77 % |
-25.68 % |
7.29 % |
36.9 % |
28.2 % |
| In structures Single-family units |
-20.05 % |
-22.91 % |
9.47 % |
30.88 % |
7.69 % |
| In structures with 2 - 4 units |
-41.67 % |
-52.63 % |
-15.38 % |
200 % |
-46.15 % |
| In structures with 5 units
or more |
-33.67 % |
-31.29 % |
3.02 % |
47.62 % |
98.01 % |
| Northeast |
-27.27 % |
-66.93 % |
-20 % |
22.95 % |
39.77 % |
| Midwest |
-18.4 % |
-29.55 % |
15.05 % |
21.84 % |
55 % |
| South |
-34.46 % |
-4.47 % |
15.26 % |
35.9 % |
12.97 % |
| West |
-7.19 % |
-43.85 % |
-4.17 % |
52.33 % |
55.15 % |
Source U.S. Department of Commerce
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