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Housing starts accelerates

Housing Starts U.S. Economic Indicators


Housing starts increased on the faster pace again, as strength in the U.S. economy becomes more evident.
U.S. housing starts grew in double digits in July by 26.1 % on the seasonally adjusted basis to annual rate of 1,496,000 units, an increase of 310,000 units from 1,186,000 in June, reported by the U.S. Department of Housing and Urban Development. Construction of new homes in U.S. increased across many sectors including, multi-family housing units, northeast and midwest.

Housing normally has a wide-ranging influence on the rest of the economy because so many raw materials and finished goods are required to build homes and furnish them after sale. From July 2019, housing starts jumped by 9.7 %, where construction in the Northeast grew the most, by 26.6 %.



Housing Starts

  M/M Y/Y
  Northeast 49.52% 26.61 %
  Midwest 11.05% -4.29%
  South 36.96% 16.74 %
  West 4.76% -3.45%
  Single-family 13.12% 2.29 %
  2 - 4 units 80.00% -57.14%
  5 or more units 56.29% 29.01 %


Permits have increased by higher rate than in previous period, permits grew in double digits by 20.5 % or 254,000 units to an annual rate of 1,496,000 units, from 1,186,000 in June on the seasonally adjusted basis Most of growth took place in the West and it was concentrated in multi-dwelling buildings such as apartments.

New permits went up 33.7 % to annual rate of 830,000 units in the West while permits for multi-family units grew 25.8 % accounting for 37.17 % of total permits issued.

Permits give an indication of whether demand for new homes is growing or slowing. Compare to a year ago monthly building permits jumped by 13.5 %




Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 140,000 units, an increase of 19,000 units, or 15.70 % from 121,000 units June 2020 and an increase of 17.65 % from 119,000 units July 2019.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 224,000 units, an increase of 41,000 units, or 22.40 % from 183,000 units June 2020 and an increase of 35.76 % from 165,000 units July 2019.


  • In West housing units were authorized at seasonally adjusted annual rate of 377,000 units, an increase of 95,000 units, or 33.69 % from 282,000 units June 2020 and an increase of 5.01 % from 359,000 units July 2019.
  • In South housing units were authorized at seasonally adjusted annual rate of 754,000 units, an increase of 99,000 units, or 15.11 % from 655,000 units June 2020 and an increase of 11.87 % from 674,000 units July 2019.

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

prel.
June 2020

prel.
May 2020

prel.
April 2020

prel.
March 2020

prel.
Total
1,495,000 1,241,000 1,220,000 1,066,000 1,353,000
In structures Single-family units
983,000 834,000 745,000 666,000 884,000
In structures with 2 - 4 units
45,000 39,000 41,000 33,000 46,000
In structures with 5 units or more
467,000 368,000 434,000 367,000 423,000
Northeast
140,000 121,000 111,000 61,000 122,000
Midwest
224,000 183,000 167,000 141,000 178,000
South
754,000 655,000 659,000 612,000 712,000
West
377,000 282,000 283,000 252,000 341,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 20.47 % 1.72 % 14.45 % -21.21 % -6.82 %
In structures Single-family units 17.87 % 11.95 % 11.86 % -24.66 % -12.04 %
In structures with 2 - 4 units 15.38 % -4.88 % 24.24 % -28.26 % 2.22 %
In structures with 5 units or more 26.9 % -15.21 % 18.26 % -13.24 % 5.22 %
Northeast 15.7 % 9.01 % 81.97 % -50 % -7.58 %
Midwest 22.4 % 9.58 % 18.44 % -20.79 % -12.75 %
South 15.11 % -0.61 % 7.68 % -14.04 % -3.13 %
West 33.69 % -0.35 % 12.3 % -26.1 % -10.5 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 13.52 % 1.72 % -5.72 % -17.75 % 6.62 %
In structures Single-family units 18.58 % 2.58 % -8.59 % -14.83 % 9.41 %
In structures with 2 - 4 units 0 % -17.02 % 10.81 % -29.79 % 27.78 %
In structures with 5 units or more 5.42 % 2.22 % -1.81 % -21.41 % -0.47 %
Northeast 17.65 % 3.42 % 20.65 % -49.17 % 0 %
Midwest 35.76 % 6.4 % -4.02 % -25 % -3.78 %
South 11.87 % 5.99 % -4.91 % -5.7 % 10.56 %
West 5.01 % -9.9 % -15.52 % -25.66 % 7.23 %



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

prel.
June 2020

prel.
May 2020

prel.
April 2020

prel.
March 2020

prel.
Total
1,496,000 1,186,000 974,000 934,000 1,216,000
In structures Single-family units
940,000 831,000 675,000 674,000 856,000
In structures with 2 - 4 units
9,000 5,000 8,000 11,000 13,000
In structures with 5 units or more
547,000 350,000 291,000 249,000 347,000
Northeast
157,000 105,000 53,000 47,000 69,000
Midwest
201,000 181,000 133,000 135,000 153,000
South
830,000 606,000 479,000 570,000 693,000
West
308,000 294,000 309,000 182,000 301,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 26.14 % 21.77 % 4.28 % -23.19 % -22.25 %
In structures Single-family units 13.12 % 23.11 % 0.15 % -21.26 % -17.45 %
In structures with 2 - 4 units 80 % -37.5 % -27.27 % -15.38 % -18.75 %
In structures with 5 units or more 56.29 % 20.27 % 16.87 % -28.24 % -32.09 %
Northeast 49.52 % 98.11 % 12.77 % -31.88 % -42.5 %
Midwest 11.05 % 36.09 % -1.48 % -11.76 % -21.54 %
South 36.96 % 26.51 % -15.96 % -17.75 % -21.34 %
West 4.76 % -4.85 % 69.78 % -39.53 % -18.21 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 9.68 % -5.35 % -23.25 % -24.37 % 6.76 %
In structures Single-family units 2.29 % -1.89 % -17.68 % -21.08 % 9.04 %
In structures with 2 - 4 units -57.14 % -50 % -38.46 % -50 % -23.53 %
In structures with 5 units or more 29.01 % -11.62 % -33.26 % -30.64 % 2.97 %
Northeast 26.61 % -3.67 % -27.4 % -67.36 % -19.77 %
Midwest -4.29 % -8.12 % -16.88 % -27.42 % 16.79 %
South 16.74 % -4.57 % -31.96 % -1.89 % 14.74 %
West -3.45 % -5.77 % -6.93 % -43.83 % -5.35 %



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

prel.
June 2020

prel.
May 2020

prel.
April 2020

prel.
March 2020

prel.
Total
136,400 122,200 105,100 96,000 116,000
In structures Single-family units
92,700 83,600 66,100 63,300 78,300
In structures with 2 - 4 units
4,200 3,900 3,300 2,800 4,000
In structures with 5 units or more
39,600 34,800 35,700 29,800 33,700
Northeast
13,000 12,900 9,300 4,900 9,600
Midwest
21,300 18,400 15,700 13,800 14,000
South
69,100 62,600 55,800 54,600 62,700
West
33,100 28,300 24,200 22,700 29,600



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 11.62 % 16.27 % 9.48 % -17.24 % 15.77 %
In structures Single-family units 10.89 % 26.48 % 4.42 % -19.16 % 10.59 %
In structures with 2 - 4 units 7.69 % 18.18 % 17.86 % -30 % 25 %
In structures with 5 units or more 13.79 % -2.52 % 19.8 % -11.57 % 28.63 %
Northeast 0.78 % 38.71 % 89.8 % -48.96 % 21.52 %
Midwest 15.76 % 17.2 % 13.77 % -1.43 % 35.92 %
South 10.38 % 12.19 % 2.2 % -12.92 % 13.79 %
West 16.96 % 16.94 % 6.61 % -23.31 % 10.04 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 14.81 % 10.99 % -15.24 % -19.53 % 11.65 %
In structures Single-family units 18.54 % 12.82 % -18.6 % -15.94 % 14.81 %
In structures with 2 - 4 units 5 % -11.36 % 0 % -33.33 % 42.86 %
In structures with 5 units or more 8.49 % 10.13 % -9.39 % -25.13 % 2.74 %
Northeast 17.12 % 14.16 % 4.49 % -51 % 4.35 %
Midwest 35.67 % 17.95 % -13.26 % -25 % 0.72 %
South 13.46 % 16.14 % -14.55 % -8.08 % 15.47 %
West 6.77 % -3.41 % -23.42 % -27.71 % 11.7 %







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

prel.
June 2020

prel.
May 2020

prel.
April 2020

prel.
March 2020

prel.
Total
139,400 112,200 89,300 84,800 100,100
In structures Single-family units
89,300 81,600 62,600 62,600 71,700
In structures with 2 - 4 units
700 400 700 900 1,100
In structures with 5 units or more
49,400 30,200 26,000 21,300 27,300
Northeast
15,300 10,400 4,800 4,200 5,200
Midwest
20,000 18,100 13,300 12,400 10,700
South
75,200 56,500 42,800 51,300 58,900
West
28,900 27,300 28,400 16,900 25,300






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 24.24 % 25.64 % 5.31 % -15.28 % -10.06 %
In structures Single-family units 9.44 % 30.35 % 0 % -12.69 % -1.65 %
In structures with 2 - 4 units 75 % -42.86 % -22.22 % -18.18 % -8.33 %
In structures with 5 units or more 63.58 % 16.15 % 22.07 % -21.98 % -26.61 %
Northeast 47.12 % 116.67 % 14.29 % -19.23 % -30.67 %
Midwest 10.5 % 36.09 % 7.26 % 15.89 % 0.94 %
South 33.1 % 32.01 % -16.57 % -12.9 % -12.09 %
West 5.86 % -3.87 % 68.05 % -33.2 % -3.44 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
July 2020
prel.
June 2020
prel.
May 2020
prel.
April 2020
prel.
March 2020
prel.
Total 20.69 % -4.51 % -24.77 % -25.68 % 7.29 %
In structures Single-family units 5.18 % 0 % -20.05 % -22.91 % 9.47 %
In structures with 2 - 4 units -30 % -55.56 % -41.67 % -52.63 % -15.38 %
In structures with 5 units or more 66.89 % -13.71 % -33.67 % -31.29 % 3.02 %
Northeast 64.52 % 1.96 % -27.27 % -66.93 % -20 %
Midwest 9.89 % -8.12 % -18.4 % -29.55 % 15.05 %
South 30.78 % -2.42 % -34.46 % -4.47 % 15.26 %
West -4.93 % -8.08 % -7.19 % -43.85 % -4.17 %

Source U.S. Department of Commerce

       
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