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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 decline in single-family houses offset an increase in multi-dwelling units construction.
In October U.S. housing starts have climbed by 2.2 % on the seasonally adjusted basis to annual rate of 1,228,000 units, an increase of 27,000 units from 1,201,000 in September, reported by the Department of Housing and Urban Development. The construction of single-family fell by -0.7% to annual rate of 865,000 units. The increase in rental demand led to higher construction of apartments, accounting for 29.56 % of total housing starts.

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. Construction of new homes in U.S. dropped by -4.8 % from Oct. 2017, where housing starts in the Northeast declined the most.



Housing Starts

  M/M Y/Y
  Northeast -27.50% -40.00%
  Midwest 31.25% -0.94%
  South 5.11% -4.03%
  West -5.37% 7.37 %
  Single-family -0.69% -1.37%
  2 - 4 units 233.33% 0.00 %
  5 or more units 5.86% -12.72%


Permits continued to grow by higher rate, building permits rose by 1.8 % or 22,000 units to an annual rate of 1,228,000 units, from 1,201,000 in September 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 25.0 % to annual rate of 335,000 units in the Northeast while permits for multi-family units grew 6.2 % accounting for 29.56 % of total permits issued.

Permits give an indication of whether demand for new homes is growing or slowing.From Oct. 2017, monthly building permits deteriorated by -2.6 %




Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 115,000 units, an increase of 23,000 units, or 25.00 % from 92,000 units Sep. 2018 and an decrease of -8.73 % from 126,000 units Oct. 2017.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 187,000 units, an increase of 33,000 units, or 21.43 % from 154,000 units Sep. 2018 and an decrease of -2.60 % from 192,000 units Oct. 2017.


  • In West housing units were authorized at seasonally adjusted annual rate of 313,000 units, an decrease of 28,000 units, or -8.21 % from 341,000 units Sep. 2018 and an decrease of -14.48 % from 366,000 units Oct. 2017.
  • In South housing units were authorized at seasonally adjusted annual rate of 648,000 units, an decrease of 6,000 units, or -0.92 % from 654,000 units Sep. 2018 and an increase of 5.71 % from 613,000 units Oct. 2017.

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

prel.
Sep. 2018

prel.
Aug. 2018

prel.
July 2018

prel.
June 2018

prel.
Total
1,263,000 1,241,000 1,249,000 1,311,000 1,273,000
In structures Single-family units
849,000 851,000 827,000 869,000 850,000
In structures with 2 - 4 units
38,000 39,000 35,000 32,000 36,000
In structures with 5 units or more
376,000 351,000 387,000 410,000 387,000
Northeast
115,000 92,000 102,000 126,000 112,000
Midwest
187,000 154,000 190,000 183,000 170,000
South
648,000 654,000 650,000 668,000 664,000
West
313,000 341,000 307,000 334,000 327,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total 1.77 % -0.64 % -4.73 % 2.99 % -2.15 %
In structures Single-family units -0.24 % 2.9 % -4.83 % 2.24 % 0.83 %
In structures with 2 - 4 units -2.56 % 11.43 % 9.38 % -11.11 % 5.88 %
In structures with 5 units or more 7.12 % -9.3 % -5.61 % 5.94 % -8.73 %
Northeast 25 % -9.8 % -19.05 % 12.5 % 0 %
Midwest 21.43 % -18.95 % 3.83 % 7.65 % 0 %
South -0.92 % 0.62 % -2.69 % 0.6 % 0 %
West -8.21 % 11.07 % -8.08 % 2.14 % 0 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total -2.62 % 2.14 % -3.92 % 7.2 % -0.16 %
In structures Single-family units 1.19 % 3.91 % 3.38 % 7.15 % 4.81 %
In structures with 2 - 4 units -9.52 % 8.33 % -2.78 % -8.57 % 2.86 %
In structures with 5 units or more -9.62 % -2.5 % -16.59 % 8.75 % -9.79 %
Northeast -8.73 % -22.69 % -4.67 % 1.61 % 7.69 %
Midwest -2.6 % -16.76 % 2.7 % 7.02 % -17.87 %
South 5.71 % 11.79 % 0.62 % 8.97 % 6.75 %
West -14.48 % 4.6 % -15.19 % 6.03 % -4.39 %



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

prel.
Sep. 2018

prel.
Aug. 2018

prel.
July 2018

prel.
June 2018

prel.
Total
1,228,000 1,201,000 1,268,000 1,168,000 1,173,000
In structures Single-family units
865,000 871,000 879,000 862,000 858,000
In structures with 2 - 4 units
20,000 6,000 17,000 3,000 11,000
In structures with 5 units or more
343,000 324,000 372,000 303,000 304,000
Northeast
87,000 120,000 93,000 97,000 96,000
Midwest
210,000 160,000 186,000 173,000 156,000
South
596,000 567,000 657,000 636,000 601,000
West
335,000 354,000 332,000 262,000 320,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total 2.25 % -5.28 % 8.56 % -0.43 % -12.27 %
In structures Single-family units -0.69 % -0.91 % 1.97 % 0.47 % -9.11 %
In structures with 2 - 4 units 233.33 % -64.71 % 466.67 % -72.73 % -8.33 %
In structures with 5 units or more 5.86 % -12.9 % 22.77 % -0.33 % -20.21 %
Northeast -27.5 % 29.03 % -4.12 % 1.04 % -6.8 %
Midwest 31.25 % -13.98 % 7.51 % 10.9 % -35.8 %
South 5.11 % -13.7 % 3.3 % 5.82 % -9.08 %
West -5.37 % 6.63 % 26.72 % -18.13 % -3.03 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total -4.81 % 6.57 % 7.46 % 1.13 % -3.3 %
In structures Single-family units -1.37 % 5.07 % 3.29 % 0.7 % -0.23 %
In structures with 2 - 4 units 0 % -50 % 183.33 % -75 % 57.14 %
In structures with 5 units or more -12.72 % 13.29 % 15.17 % 5.57 % -12.14 %
Northeast -40 % 21.21 % -11.43 % -24.81 % -37.25 %
Midwest -0.94 % 3.9 % -7 % -3.35 % -26.07 %
South -4.03 % 7.59 % 16.7 % 19.55 % 13.61 %
West 7.37 % 2.02 % 6.41 % -16.83 % 0 %



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

prel.
Sep. 2018

prel.
Aug. 2018

prel.
July 2018

prel.
June 2018

prel.
Total
112,500 96,600 116,900 114,000 119,800
In structures Single-family units
74,200 64,700 78,500 77,600 81,300
In structures with 2 - 4 units
3,600 3,300 3,500 2,900 3,500
In structures with 5 units or more
34,800 28,700 35,000 33,500 35,000
Northeast
10,200 7,800 9,000 11,300 10,600
Midwest
19,700 13,700 19,700 16,700 16,200
South
55,500 49,300 59,800 58,200 60,600
West
27,100 25,900 28,500 27,700 32,400



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total 16.46 % -17.37 % 2.54 % -4.84 % -4.16 %
In structures Single-family units 14.68 % -17.58 % 1.16 % -4.55 % -3.67 %
In structures with 2 - 4 units 9.09 % -5.71 % 20.69 % -17.14 % 16.67 %
In structures with 5 units or more 21.25 % -18 % 4.48 % -4.29 % -6.91 %
Northeast 30.77 % -13.33 % -20.35 % 6.6 % 0 %
Midwest 43.8 % -30.46 % 17.96 % 3.09 % 0 %
South 12.58 % -17.56 % 2.75 % -3.96 % 0 %
West 4.63 % -9.12 % 2.89 % -14.51 % 0 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total 0.36 % -3.88 % -4.65 % 13.55 % -6.33 %
In structures Single-family units 6.3 % -2.41 % 2.61 % 12.3 % -0.61 %
In structures with 2 - 4 units -10 % 3.13 % -5.41 % 3.57 % -2.78 %
In structures with 5 units or more -9.14 % -7.42 % -17.65 % 17.54 % -17.65 %
Northeast -6.42 % -27.78 % -9.09 % 4.63 % -3.64 %
Midwest 2.6 % -21.71 % 3.68 % 12.84 % -23.94 %
South 6.94 % 8.11 % -0.66 % 17.58 % 1.17 %
West -9.97 % -2.26 % -14.93 % 9.49 % -8.99 %







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

prel.
Sep. 2018

prel.
Aug. 2018

prel.
July 2018

prel.
June 2018

prel.
Total
107,300 106,100 112,600 110,400 111,500
In structures Single-family units
74,600 74,200 79,600 81,800 83,800
In structures with 2 - 4 units
1,800 600 1,500 300 1,000
In structures with 5 units or more
30,900 31,300 31,500 28,300 26,700
Northeast
8,300 11,100 8,400 9,500 9,300
Midwest
20,200 15,600 16,700 17,600 15,800
South
51,200 48,200 58,300 58,300 56,300
West
27,700 31,200 29,200 25,100 30,200






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total 1.13 % -5.77 % 1.99 % -0.99 % -9.94 %
In structures Single-family units 0.54 % -6.78 % -2.69 % -2.39 % -5.84 %
In structures with 2 - 4 units 200 % -60 % 400 % -70 % 0 %
In structures with 5 units or more -1.28 % -0.63 % 11.31 % 5.99 % -21.01 %
Northeast -25.23 % 32.14 % -11.58 % 2.15 % -3.13 %
Midwest 29.49 % -6.59 % -5.11 % 11.39 % -34.71 %
South 6.22 % -17.32 % 0 % 3.55 % -5.38 %
West -11.22 % 6.85 % 16.33 % -16.89 % -1.31 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
July 2018
prel.
June 2018
prel.
Total -4.45 % 4.74 % 9 % 1.28 % -4.13 %
In structures Single-family units -0.4 % 2.63 % 4.6 % 0.86 % -0.36 %
In structures with 2 - 4 units 0 % -45.45 % 200 % -75 % 66.67 %
In structures with 5 units or more -13.2 % 12.19 % 17.98 % 5.99 % -15.51 %
Northeast -38.06 % 21.98 % -10.64 % -22.76 % -35.86 %
Midwest 0 % 3.31 % -5.65 % -1.68 % -25.82 %
South -2.48 % 3.88 % 19.22 % 20.45 % 13.28 %
West 5.73 % 1.63 % 6.57 % -17.43 % -1.95 %

Source U.S. Department of Commerce

     
       
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