February housing starts fell by -10.3 %
Housing Starts U.S. Economic Indicators
The construction of new homes, as well as the issuance of new building permits declined in February, signaling slowdown in economic growth and decrease in business profitability.
In February U.S. housing starts dropped by -10.3 % on the seasonally adjusted basis to annual rate of 1,421,000 units, a decrease of 163,000 units from 1,584,000 in January. Most of decline took place in the Northeast and it was concentrated in multi-dwelling buildings such as apartments.
New building retreated -39.5 % to annual rate of 440,000 units in the Northeast while the construction of multi-family units decreased -15.0 % accounting for 26.81 % of total construction. As demand for renting apartments declines.
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.
In construction of housing units was bellow average rate of 1,215,060 housing starts. Housing starts dropped by -9.1 % from Feb. 2020, home construction in the Midwest decreased the most, by -29.2 %.
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Permits dropped by -10.8 % or 204,000 units to an annual rate of 1,421,000 units, from 1,584,000 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 -13.9 % to annual rate of 725,000 units in the South while the permits for multi-family units decreased -12.5 % accounting for 26.81 % of total building permits issued.
Permits indicate whether demand for new homes is growing or slowing. Compare to a year ago monthly building permits soared by 15.8 %
|
| Permits By Region |
- In Northeast
housing units were authorized at seasonally adjusted annual rate of 174,000
units, an
decrease of 19,000
units,
or -9.84 % from 193,000
units Jan. 2021 and an
increase of 31.82 % from 132,000
units Feb. 2020.
- In
Midwest housing units were authorized at seasonally
adjusted annual rate of 249,000
units, an
increase of
3,000
units,
or
1.22 % from 246,000
units Jan. 2021 and an
increase of
22.06 % from 204,000
units Feb. 2020.
- In
West housing units were authorized at seasonally adjusted
annual rate of 426,000
units, an
decrease of
54,000
units,
or
-11.25 % from 480,000
units Jan. 2021 and an
increase of
11.81 % from 381,000
units Feb. 2020.
|
- In
South housing units were authorized at seasonally adjusted annual rate of 833,000
units, an
decrease of 134,000
units,
or -13.86 % from 967,000
units Jan. 2021 and an
increase of 13.33 % from 735,000
units Feb. 2020.
|
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
|
1,682,000 |
1,886,000 |
1,709,000 |
1,639,000 |
1,545,000 |
| In structures Single-family units |
|
1,143,000 |
1,270,000 |
1,226,000 |
1,143,000 |
1,120,000 |
| In structures with 2 - 4 units |
|
44,000 |
56,000 |
46,000 |
55,000 |
60,000 |
| In structures with 5 units or more |
|
495,000 |
560,000 |
437,000 |
441,000 |
365,000 |
| Northeast |
|
174,000 |
193,000 |
141,000 |
149,000 |
134,000 |
| Midwest |
|
249,000 |
246,000 |
251,000 |
219,000 |
213,000 |
| South |
|
833,000 |
967,000 |
879,000 |
868,000 |
821,000 |
| West |
|
426,000 |
480,000 |
438,000 |
403,000 |
377,000 |
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
-10.82 % |
10.36 % |
4.27 % |
6.08 % |
-0.52 % |
| In structures Single-family units |
-10 % |
3.59 % |
7.26 % |
2.05 % |
0.09 % |
| In structures with 2 - 4 units |
-21.43 % |
21.74 % |
-16.36 % |
-8.33 % |
36.36 % |
| In structures with 5 units
or more |
-11.61 % |
28.15 % |
-0.91 % |
20.82 % |
-6.41 % |
| Northeast |
-9.84 % |
36.88 % |
-5.37 % |
11.19 % |
-11.26 % |
| Midwest |
1.22 % |
-1.99 % |
14.61 % |
2.82 % |
3.4 % |
| South |
-13.86 % |
10.01 % |
1.27 % |
5.72 % |
0.86 % |
| West |
-11.25 % |
9.59 % |
8.68 % |
6.9 % |
-1.31 % |
New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
15.84 % |
21.6 % |
20.69 % |
11.19 % |
5.75 % |
| In structures Single-family units |
13.73 % |
28.67 % |
33.84 % |
24.1 % |
22.94 % |
| In structures with 2 - 4 units |
-2.22 % |
33.33 % |
9.52 % |
44.74 % |
25 % |
| In structures with 5 units
or more |
23.13 % |
7.28 % |
-4.59 % |
-14.37 % |
-27.29 % |
| Northeast |
31.82 % |
5.46 % |
5.22 % |
-6.29 % |
-2.9 % |
| Midwest |
22.06 % |
9.33 % |
21.26 % |
6.31 % |
18.99 % |
| South |
13.33 % |
29.8 % |
27.76 % |
17.93 % |
6.21 % |
| West |
11.81 % |
20.6 % |
13.18 % |
8.04 % |
1.62 % |
New Housing Units Started
(Seasonally adj., at Annual Rate, units) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
|
1,421,000 |
1,584,000 |
1,669,000 |
1,547,000 |
1,530,000 |
| In structures Single-family units |
|
1,040,000 |
1,136,000 |
1,338,000 |
1,186,000 |
1,179,000 |
| In structures with 2 - 4 units |
|
9,000 |
13,000 |
19,000 |
9,000 |
17,000 |
| In structures with 5 units or more |
|
372,000 |
435,000 |
312,000 |
352,000 |
334,000 |
| Northeast |
|
118,000 |
195,000 |
107,000 |
135,000 |
78,000 |
| Midwest |
|
138,000 |
212,000 |
251,000 |
196,000 |
219,000 |
| South |
|
725,000 |
803,000 |
858,000 |
809,000 |
859,000 |
| West |
|
440,000 |
374,000 |
453,000 |
407,000 |
374,000 |
New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
-10.29 % |
-5.09 % |
7.89 % |
1.11 % |
8.13 % |
| In structures Single-family units |
-8.45 % |
-15.1 % |
12.82 % |
0.59 % |
6.41 % |
| In structures with 2 - 4 units |
-30.77 % |
-31.58 % |
111.11 % |
-47.06 % |
41.67 % |
| In structures with 5 units
or more |
-14.48 % |
39.42 % |
-11.36 % |
5.39 % |
13.22 % |
| Northeast |
-39.49 % |
82.24 % |
-20.74 % |
73.08 % |
-46.21 % |
| Midwest |
-34.91 % |
-15.54 % |
28.06 % |
-10.5 % |
32.73 % |
| South |
-9.71 % |
-6.41 % |
6.06 % |
-5.82 % |
13.77 % |
| West |
17.65 % |
-17.44 % |
11.3 % |
8.82 % |
6.86 % |
New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
-9.14 % |
1.08 % |
3.79 % |
12.51 % |
14.18 % |
| In structures Single-family units |
0.29 % |
12.48 % |
26.82 % |
24.97 % |
28.99 % |
| In structures with 2 - 4 units |
-43.75 % |
30 % |
11.76 % |
-55 % |
41.67 % |
| In structures with 5 units
or more |
-27.2 % |
-20.48 % |
-41.79 % |
-13.3 % |
-19.32 % |
| Northeast |
-1.67 % |
9.55 % |
-19.55 % |
27.36 % |
-32.17 % |
| Midwest |
-29.23 % |
17.78 % |
-1.18 % |
5.95 % |
22.35 % |
| South |
-17.71 % |
3.21 % |
5.93 % |
9.18 % |
24.13 % |
| West |
19.57 % |
-13.23 % |
10.22 % |
18.66 % |
5.65 % |
New Housing Units Authorized
(Not seasonally adjusted, units) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
|
117,200 |
128,800 |
134,100 |
120,200 |
133,000 |
| In structures Single-family units |
|
80,900 |
83,900 |
88,800 |
80,000 |
94,500 |
| In structures with 2 - 4 units |
|
3,100 |
3,600 |
3,600 |
4,100 |
5,400 |
| In structures with 5 units or more |
|
33,200 |
41,300 |
41,700 |
36,200 |
33,100 |
| Northeast |
|
10,800 |
13,400 |
12,700 |
12,200 |
11,600 |
| Midwest |
|
13,400 |
12,600 |
16,100 |
16,600 |
21,300 |
| South |
|
63,000 |
70,400 |
66,700 |
61,500 |
67,800 |
| West |
|
30,000 |
32,400 |
38,500 |
29,900 |
32,300 |
New Housing Units Authorized
(Not seasonally adjusted, in Y / Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
-9.01 % |
-3.95 % |
11.56 % |
-9.62 % |
-0.89 % |
| In structures Single-family units |
-3.58 % |
-5.52 % |
11 % |
-15.34 % |
-0.84 % |
| In structures with 2 - 4 units |
-13.89 % |
0 % |
-12.2 % |
-24.07 % |
35 % |
| In structures with 5 units
or more |
-19.61 % |
-0.96 % |
15.19 % |
9.37 % |
-5.16 % |
| Northeast |
-19.4 % |
5.51 % |
4.1 % |
5.17 % |
-14.71 % |
| Midwest |
6.35 % |
-21.74 % |
-3.01 % |
-22.07 % |
7.58 % |
| South |
-10.51 % |
5.55 % |
8.46 % |
-9.29 % |
-1.74 % |
| West |
-7.41 % |
-15.84 % |
28.76 % |
-7.43 % |
1.57 % |
New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
16.97 % |
13.98 % |
24.98 % |
11.81 % |
0.99 % |
| In structures Single-family units |
14.27 % |
19.18 % |
42.31 % |
25.39 % |
18.42 % |
| In structures with 2 - 4 units |
-3.13 % |
20 % |
12.5 % |
41.38 % |
28.57 % |
| In structures with 5 units
or more |
26.72 % |
4.29 % |
0 % |
-11.27 % |
-30.61 % |
| Northeast |
36.71 % |
8.06 % |
8.55 % |
-3.17 % |
-10.08 % |
| Midwest |
30.1 % |
0.8 % |
24.81 % |
7.1 % |
11.52 % |
| South |
14.34 % |
17.53 % |
28.76 % |
19.19 % |
1.04 % |
| West |
11.52 % |
14.89 % |
24.6 % |
7.17 % |
-0.92 % |
New Housing Units Started
(Not seas. adj. at Annual Rate, units) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
|
100,700 |
111,000 |
113,300 |
117,500 |
132,000 |
| In structures Single-family units |
|
72,200 |
77,100 |
89,300 |
87,800 |
101,000 |
| In structures with 2 - 4 units |
|
700 |
900 |
1,400 |
700 |
1,400 |
| In structures with 5 units or more |
|
27,800 |
33,000 |
22,600 |
29,000 |
29,600 |
| Northeast |
|
7,100 |
13,800 |
7,400 |
10,900 |
7,300 |
| Midwest |
|
7,100 |
11,500 |
14,800 |
15,700 |
21,400 |
| South |
|
54,800 |
59,500 |
60,600 |
60,600 |
71,300 |
| West |
|
31,700 |
26,300 |
30,600 |
30,300 |
32,000 |
New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
-9.28 % |
-2.03 % |
-3.57 % |
-10.98 % |
5.6 % |
| In structures Single-family units |
-6.36 % |
-13.66 % |
1.71 % |
-13.07 % |
3.8 % |
| In structures with 2 - 4 units |
-22.22 % |
-35.71 % |
100 % |
-50 % |
40 % |
| In structures with 5 units
or more |
-15.76 % |
46.02 % |
-22.07 % |
-2.03 % |
10.86 % |
| Northeast |
-48.55 % |
86.49 % |
-32.11 % |
49.32 % |
-45.11 % |
| Midwest |
-38.26 % |
-22.3 % |
-5.73 % |
-26.64 % |
34.59 % |
| South |
-7.9 % |
-1.82 % |
0 % |
-15.01 % |
8.85 % |
| West |
20.53 % |
-14.05 % |
0.99 % |
-5.31 % |
5.26 % |
New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y) |
Feb. 2021
prel. |
Jan. 2021
prel. |
Dec. 2020
prel. |
Nov. 2020
prel. |
Oct. 2020
prel. |
| Total |
-9.52 % |
1.74 % |
4.42 % |
13.97 % |
14.98 % |
| In structures Single-family units |
-0.96 % |
12.39 % |
30.17 % |
27.8 % |
31.51 % |
| In structures with 2 - 4 units |
-41.67 % |
28.57 % |
16.67 % |
-58.82 % |
27.27 % |
| In structures with 5 units
or more |
-25.27 % |
-17.09 % |
-41.6 % |
-11.31 % |
-19.78 % |
| Northeast |
-5.33 % |
12.2 % |
-20.43 % |
26.74 % |
-31.13 % |
| Midwest |
-33.02 % |
23.66 % |
-0.67 % |
6.08 % |
25.15 % |
| South |
-18.21 % |
3.48 % |
7.45 % |
11.6 % |
25.53 % |
| West |
20.99 % |
-12.62 % |
9.68 % |
19.29 % |
5.96 % |
Source U.S. Department of Commerce
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