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Housing Starts U.S. Economic Indicators



In October U.S. housing starts soared by 8.1 % on the seasonally adjusted basis to annual rate of 1,530,000 units, an increase of 115,000 units from 1,415,000 in September, reported by the 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 32.7 % to annual rate of 219,000 units in the Midwest while the construction of multi-family units grew 14.3 % accounting for 22.94 % 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.

Despite recent growth, new construction of homes is still below the average level of 1,185,571 units.Permits decreased by -0.5 % or 8,000 units to an annual rate of 1,530,000 units, from 1,415,000 in September on the seasonally adjusted basis Demand for building permits fell the most in the Northeast and it was concentrated in multi-dwelling buildings such as apartments.

The issuance of new permits declined -11.3 % to annual rate of 78,000 units in the Northeast while the permits for multi-family units decreased -2.1 % accounting for 22.94 % 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 5.7 %




Housing Starts

  M/M Y/Y
  Northeast -46.21% -32.17%
  Midwest 32.73% 22.35 %
  South 13.77% 24.13 %
  West 6.86% 5.65 %
  Single-family 6.41% 28.99 %
  2 - 4 units 41.67% 41.67 %
  5 or more units 13.22% -19.32%


From Oct. 2019, housing starts jumped by 14.2 %, led by construction of homes in the South by 24.1 %.



Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 134,000 units, an decrease of 17,000 units, or -11.26 % from 151,000 units Sep. 2020 and an decrease of -2.90 % from 138,000 units Oct. 2019.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 213,000 units, an increase of 7,000 units, or 3.40 % from 206,000 units Sep. 2020 and an increase of 18.99 % from 179,000 units Oct. 2019.


  • In West housing units were authorized at seasonally adjusted annual rate of 377,000 units, an decrease of 5,000 units, or -1.31 % from 382,000 units Sep. 2020 and an increase of 1.62 % from 371,000 units Oct. 2019.
  • In South housing units were authorized at seasonally adjusted annual rate of 821,000 units, an increase of 7,000 units, or 0.86 % from 814,000 units Sep. 2020 and an increase of 6.21 % from 773,000 units Oct. 2019.

New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units)
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
July 2020

prel.
June 2020

prel.
Total
1,545,000 1,553,000 1,470,000 1,495,000 1,241,000
In structures Single-family units
1,120,000 1,119,000 1,036,000 983,000 834,000
In structures with 2 - 4 units
60,000 44,000 53,000 45,000 39,000
In structures with 5 units or more
365,000 390,000 381,000 467,000 368,000
Northeast
134,000 151,000 119,000 140,000 121,000
Midwest
213,000 206,000 188,000 224,000 183,000
South
821,000 814,000 795,000 754,000 655,000
West
377,000 382,000 368,000 377,000 282,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total -0.52 % 5.65 % -1.67 % 20.47 % 1.72 %
In structures Single-family units 0.09 % 8.01 % 5.39 % 17.87 % 11.95 %
In structures with 2 - 4 units 36.36 % -16.98 % 17.78 % 15.38 % -4.88 %
In structures with 5 units or more -6.41 % 2.36 % -18.42 % 26.9 % -15.21 %
Northeast -11.26 % 26.89 % -15 % 15.7 % 9.01 %
Midwest 3.4 % 9.57 % -16.07 % 22.4 % 9.58 %
South 0.86 % 2.39 % 5.44 % 15.11 % -0.61 %
West -1.31 % 3.8 % -2.39 % 33.69 % -0.35 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total 5.75 % 11.97 % 3.59 % 13.52 % 1.72 %
In structures Single-family units 22.94 % 26.87 % 19.63 % 18.58 % 2.58 %
In structures with 2 - 4 units 25 % 25.71 % 20.45 % 0 % -17.02 %
In structures with 5 units or more -27.29 % -17.02 % -25.15 % 5.42 % 2.22 %
Northeast -2.9 % 33.63 % -21.19 % 17.65 % 3.42 %
Midwest 18.99 % 17.05 % -0.53 % 35.76 % 6.4 %
South 6.21 % 11.2 % 6.28 % 11.87 % 5.99 %
West 1.62 % 4.37 % 11.18 % 5.01 % -9.9 %



New Housing Units Started
(Seasonally adj., at Annual Rate, units)
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
July 2020

prel.
June 2020

prel.
Total
1,530,000 1,415,000 1,416,000 1,496,000 1,186,000
In structures Single-family units
1,179,000 1,108,000 1,021,000 940,000 831,000
In structures with 2 - 4 units
17,000 12,000 20,000 9,000 5,000
In structures with 5 units or more
334,000 295,000 375,000 547,000 350,000
Northeast
78,000 145,000 89,000 157,000 105,000
Midwest
219,000 165,000 267,000 201,000 181,000
South
859,000 755,000 699,000 830,000 606,000
West
374,000 350,000 361,000 308,000 294,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total 8.13 % -0.07 % -5.35 % 26.14 % 21.77 %
In structures Single-family units 6.41 % 8.52 % 8.62 % 13.12 % 23.11 %
In structures with 2 - 4 units 41.67 % -40 % 122.22 % 80 % -37.5 %
In structures with 5 units or more 13.22 % -21.33 % -31.44 % 56.29 % 20.27 %
Northeast -46.21 % 62.92 % -43.31 % 49.52 % 98.11 %
Midwest 32.73 % -38.2 % 32.84 % 11.05 % 36.09 %
South 13.77 % 8.01 % -15.78 % 36.96 % 26.51 %
West 6.86 % -3.05 % 17.21 % 4.76 % -4.85 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total 14.18 % 12.66 % 3.81 % 9.68 % -5.35 %
In structures Single-family units 28.99 % 20.7 % 11.1 % 2.29 % -1.89 %
In structures with 2 - 4 units 41.67 % 9.09 % -4.76 % -57.14 % -50 %
In structures with 5 units or more -19.32 % -9.79 % -11.56 % 29.01 % -11.62 %
Northeast -32.17 % 33.03 % -28.23 % 26.61 % -3.67 %
Midwest 22.35 % -1.2 % 27.14 % -4.29 % -8.12 %
South 24.13 % 11.69 % -1.69 % 16.74 % -4.57 %
West 5.65 % 15.13 % 13.17 % -3.45 % -5.77 %



New Housing Units Authorized
(Not seasonally adjusted, units)
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
July 2020

prel.
June 2020

prel.
Total
133,000 134,200 125,500 136,400 122,200
In structures Single-family units
94,500 95,300 89,600 92,700 83,600
In structures with 2 - 4 units
5,400 4,000 4,700 4,200 3,900
In structures with 5 units or more
33,100 34,900 31,200 39,600 34,800
Northeast
11,600 13,600 9,900 13,000 12,900
Midwest
21,300 19,800 17,600 21,300 18,400
South
67,800 69,000 68,000 69,100 62,600
West
32,300 31,800 30,000 33,100 28,300



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total -0.89 % 6.93 % -7.99 % 11.62 % 16.27 %
In structures Single-family units -0.84 % 6.36 % -3.34 % 10.89 % 26.48 %
In structures with 2 - 4 units 35 % -14.89 % 11.9 % 7.69 % 18.18 %
In structures with 5 units or more -5.16 % 11.86 % -21.21 % 13.79 % -2.52 %
Northeast -14.71 % 37.37 % -23.85 % 0.78 % 38.71 %
Midwest 7.58 % 12.5 % -17.37 % 15.76 % 17.2 %
South -1.74 % 1.47 % -1.59 % 10.38 % 12.19 %
West 1.57 % 6 % -9.37 % 16.96 % 16.94 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total 0.99 % 17.41 % -1.18 % 14.81 % 10.99 %
In structures Single-family units 18.42 % 34.99 % 14.72 % 18.54 % 12.82 %
In structures with 2 - 4 units 28.57 % 33.33 % 14.63 % 5 % -11.36 %
In structures with 5 units or more -30.61 % -14.04 % -30.51 % 8.49 % 10.13 %
Northeast -10.08 % 40.21 % -23.26 % 17.12 % 14.16 %
Midwest 11.52 % 20.73 % -4.86 % 35.67 % 17.95 %
South 1.04 % 17.15 % 2.72 % 13.46 % 16.14 %
West -0.92 % 8.53 % 1.69 % 6.77 % -3.41 %







New Housing Units Started
(Not seas. adj. at Annual Rate, units)
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
July 2020

prel.
June 2020

prel.
Total
132,000 125,000 127,300 139,400 112,200
In structures Single-family units
101,000 97,300 93,200 89,300 81,600
In structures with 2 - 4 units
1,400 1,000 1,700 700 400
In structures with 5 units or more
29,600 26,700 32,400 49,400 30,200
Northeast
7,300 13,300 7,800 15,300 10,400
Midwest
21,400 15,900 24,600 20,000 18,100
South
71,300 65,500 62,100 75,200 56,500
West
32,000 30,400 32,700 28,900 27,300






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total 5.6 % -1.81 % -8.68 % 24.24 % 25.64 %
In structures Single-family units 3.8 % 4.4 % 4.37 % 9.44 % 30.35 %
In structures with 2 - 4 units 40 % -41.18 % 142.86 % 75 % -42.86 %
In structures with 5 units or more 10.86 % -17.59 % -34.41 % 63.58 % 16.15 %
Northeast -45.11 % 70.51 % -49.02 % 47.12 % 116.67 %
Midwest 34.59 % -35.37 % 23 % 10.5 % 36.09 %
South 8.85 % 5.48 % -17.42 % 33.1 % 32.01 %
West 5.26 % -7.03 % 13.15 % 5.86 % -3.87 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
July 2020
prel.
June 2020
prel.
Total 14.98 % 10.72 % 5.12 % 20.69 % -4.51 %
In structures Single-family units 31.51 % 20.57 % 12.97 % 5.18 % 0 %
In structures with 2 - 4 units 27.27 % -9.09 % -10.53 % -30 % -55.56 %
In structures with 5 units or more -19.78 % -14.15 % -11.72 % 66.89 % -13.71 %
Northeast -31.13 % 29.13 % -29.73 % 64.52 % 1.96 %
Midwest 25.15 % -3.05 % 27.46 % 9.89 % -8.12 %
South 25.53 % 10.08 % 0.49 % 30.78 % -2.42 %
West 5.96 % 13.43 % 13.15 % -4.93 % -8.08 %

Source U.S. Department of Commerce

       
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