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June U.S. housing starts fell by -1.3 %

Housing Starts U.S. Economic Indicators


Housing starts decreased in June following the decline in building permits in previous month, following gain in previous period.
U.S. housing starts fell by -1.3 % in June on the seasonally adjusted basis to annual rate of 1,253,000 units, a decrease of 16,000 units from 1,269,000 in May, reported by the U.S. Department of Housing and Urban Development. Most of decline took place in the South and it was concentrated in multi-dwelling buildings such as apartments.
But not all was bad news in the government report, economists pointed out the 3.3 % increase in construction of single-family homes, siting growing demand for higher value homes.

New building went down -9.8 % to annual rate of 635,000 units in the South while the construction of multi-family units decreased -9.6 % accounting for 32.4 % of total construction. As demand for renting apartments declines.

A healthier housing market, however, would give a big boost to the economy.

In construction of housing units was bellow average rate of 1,095,845 housing starts. From June 2018, housing starts jumped by 6.8 %, in midwest housing starts rose the most, by 26.3 %, this is the main reason why some economists are optimistic about the housing market, despite the recent slowdown.



Housing Starts

  M/M Y/Y
  Northeast 49.32% 13.54 %
  Midwest 23.13% 26.28 %
  South -9.80% 5.66 %
  West -6.02% -2.50%
  Single-family 3.29% -1.28%
  2 - 4 units -23.08% -9.09%
  5 or more units -9.17% 30.26 %


Permits dropped by -5.7 % or 74,000 units to an annual rate of 1,253,000 units, from 1,269,000 in May 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 -10.8 % to annual rate of 635,000 units in the South while the permits for multi-family units decreased -15.0 % accounting for 32.4 % of total building permits issued.

Permits indicate whether demand for new homes is growing or slowing.Building permits dropped by -4.2 % from June 2018




Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 117,000 units, an increase of 25,000 units, or 27.17 % from 92,000 units May 2019 and an increase of 4.46 % from 112,000 units June 2018.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 172,000 units, an decrease of 2,000 units, or -1.15 % from 174,000 units May 2019 and an increase of 1.18 % from 170,000 units June 2018.


  • In West housing units were authorized at seasonally adjusted annual rate of 313,000 units, an decrease of 22,000 units, or -6.57 % from 335,000 units May 2019 and an decrease of -4.28 % from 327,000 units June 2018.
  • In South housing units were authorized at seasonally adjusted annual rate of 618,000 units, an decrease of 75,000 units, or -10.82 % from 693,000 units May 2019 and an decrease of -6.93 % from 664,000 units June 2018.

New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units)
June 2019

prel.
May 2019

prel.
April 2019

prel.
March 2019

prel.
Feb. 2019

prel.
Total
1,220,000 1,294,000 1,296,000 1,269,000 1,296,000
In structures Single-family units
813,000 815,000 782,000 808,000 821,000
In structures with 2 - 4 units
47,000 37,000 47,000 36,000 36,000
In structures with 5 units or more
360,000 442,000 467,000 425,000 439,000
Northeast
117,000 92,000 120,000 122,000 137,000
Midwest
172,000 174,000 188,000 185,000 188,000
South
618,000 693,000 649,000 644,000 683,000
West
313,000 335,000 339,000 318,000 288,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total -5.72 % -0.15 % 2.13 % -2.08 % -1.59 %
In structures Single-family units -0.25 % 4.22 % -3.22 % -1.58 % 0 %
In structures with 2 - 4 units 27.03 % -21.28 % 30.56 % 0 % -18.18 %
In structures with 5 units or more -18.55 % -5.35 % 9.88 % -3.19 % -2.88 %
Northeast 27.17 % -23.33 % -1.64 % -10.95 % 1.48 %
Midwest -1.15 % -7.45 % 1.62 % -1.6 % 1.08 %
South -10.82 % 6.78 % 0.78 % -5.71 % 3.96 %
West -6.57 % -1.18 % 6.6 % 10.42 % -15.04 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total -4.16 % -0.54 % -4.14 % -6.28 % -0.15 %
In structures Single-family units -4.35 % -3.32 % -8.96 % -3.81 % -5.85 %
In structures with 2 - 4 units 30.56 % 8.82 % 9.3 % -12.2 % -12.2 %
In structures with 5 units or more -6.98 % 4.25 % 3.78 % -10.15 % 14.03 %
Northeast 4.46 % -17.86 % 30.43 % -11.59 % 3.01 %
Midwest 1.18 % 2.35 % -3.09 % -9.76 % 2.17 %
South -6.93 % 4.37 % -11.1 % 1.9 % 11.24 %
West -4.28 % 2.45 % 0.89 % -16.09 % -21.53 %



New Housing Units Started
(Seasonally adj., at Annual Rate, units)
June 2019

prel.
May 2019

prel.
April 2019

prel.
March 2019

prel.
Feb. 2019

prel.
Total
1,253,000 1,269,000 1,235,000 1,139,000 1,162,000
In structures Single-family units
847,000 820,000 854,000 785,000 805,000
In structures with 2 - 4 units
10,000 13,000 22,000 17,000 5,000
In structures with 5 units or more
396,000 436,000 359,000 337,000 352,000
Northeast
109,000 73,000 144,000 86,000 98,000
Midwest
197,000 160,000 186,000 131,000 161,000
South
635,000 704,000 581,000 604,000 663,000
West
312,000 332,000 324,000 318,000 240,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total -1.26 % 2.75 % 8.43 % -1.98 % -8.72 %
In structures Single-family units 3.29 % -3.98 % 8.79 % -2.48 % -17.01 %
In structures with 2 - 4 units -23.08 % -40.91 % 29.41 % 240 % -72.22 %
In structures with 5 units or more -9.17 % 21.45 % 6.53 % -4.26 % 23.51 %
Northeast 49.32 % -49.31 % 67.44 % -12.24 % -29.5 %
Midwest 23.13 % -13.98 % 41.98 % -18.63 % 26.77 %
South -9.8 % 21.17 % -3.81 % -8.9 % -6.75 %
West -6.02 % 2.47 % 1.89 % 32.5 % -18.92 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total 6.82 % -5.09 % -4.04 % -13.65 % -5.99 %
In structures Single-family units -1.28 % -13.14 % -4.47 % -9.46 % -10.75 %
In structures with 2 - 4 units -9.09 % 8.33 % 15.79 % 30.77 % -70.59 %
In structures with 5 units or more 30.26 % 14.44 % -4.01 % -23.23 % 11.04 %
Northeast 13.54 % -29.13 % 26.32 % -34.85 % -10.09 %
Midwest 26.28 % -34.16 % 13.41 % -27.22 % 3.87 %
South 5.66 % 6.51 % -12.37 % -2.74 % 4.74 %
West -2.5 % 0.61 % -6.36 % -17.62 % -29.2 %



New Housing Units Authorized
(Not seasonally adjusted, units)
June 2019

prel.
May 2019

prel.
April 2019

prel.
March 2019

prel.
Feb. 2019

prel.
Total
110,100 124,000 119,300 103,900 90,200
In structures Single-family units
74,100 81,200 75,300 68,200 57,700
In structures with 2 - 4 units
4,400 3,300 4,200 2,800 2,600
In structures with 5 units or more
31,600 39,400 39,800 32,800 30,000
Northeast
11,300 8,900 10,000 9,200 8,100
Midwest
15,600 18,100 18,400 13,900 9,700
South
53,900 65,300 59,400 54,300 52,100
West
29,300 31,600 31,400 26,500 20,300



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total -11.21 % 3.94 % 14.82 % 15.19 % -4.45 %
In structures Single-family units -8.74 % 7.84 % 10.41 % 18.2 % -0.69 %
In structures with 2 - 4 units 33.33 % -21.43 % 50 % 7.69 % -16.13 %
In structures with 5 units or more -19.8 % -1.01 % 21.34 % 9.33 % -9.91 %
Northeast 26.97 % -11 % 8.7 % 13.58 % -10.99 %
Midwest -13.81 % -1.63 % 32.37 % 43.3 % -3 %
South -17.46 % 9.93 % 9.39 % 4.22 % 1.56 %
West -7.28 % 0.64 % 18.49 % 30.54 % -15.77 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total -8.1 % -0.8 % 0.59 % -9.89 % -0.33 %
In structures Single-family units -8.86 % -3.79 % -4.2 % -8.82 % -5.56 %
In structures with 2 - 4 units 25.71 % 10 % 20 % -15.15 % -3.7 %
In structures with 5 units or more -9.71 % 4.79 % 9.04 % -11.83 % 12.36 %
Northeast 6.6 % -16.04 % 33.33 % -14.81 % 9.46 %
Midwest -3.7 % 11.73 % 2.22 % -13.66 % 2.11 %
South -11.06 % 7.76 % -7.62 % -1.99 % 10.15 %
West -9.57 % -2.47 % 9.03 % -19.7 % -23.11 %







New Housing Units Started
(Not seas. adj. at Annual Rate, units)
June 2019

prel.
May 2019

prel.
April 2019

prel.
March 2019

prel.
Feb. 2019

prel.
Total
117,500 118,700 114,100 93,300 81,300
In structures Single-family units
81,600 78,300 81,200 65,500 55,700
In structures with 2 - 4 units
900 1,200 1,900 1,300 400
In structures with 5 units or more
35,000 39,200 31,000 26,500 25,200
Northeast
10,200 6,600 12,700 6,500 6,100
Midwest
19,700 16,300 17,600 9,300 8,700
South
57,900 65,300 53,700 51,100 49,300
West
29,700 30,600 30,100 26,400 17,200






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total -1.01 % 4.03 % 22.29 % 14.76 % -4.47 %
In structures Single-family units 4.21 % -3.57 % 23.97 % 17.59 % -12.56 %
In structures with 2 - 4 units -25 % -36.84 % 46.15 % 225 % -69.23 %
In structures with 5 units or more -10.71 % 26.45 % 16.98 % 5.16 % 25.37 %
Northeast 54.55 % -48.03 % 95.38 % 6.56 % -30.68 %
Midwest 20.86 % -7.39 % 89.25 % 6.9 % 45 %
South -11.33 % 21.6 % 5.09 % 3.65 % -3.14 %
West -2.94 % 1.66 % 14.02 % 53.49 % -11.34 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
June 2019
prel.
May 2019
prel.
April 2019
prel.
March 2019
prel.
Feb. 2019
prel.
Total 5.38 % -4.12 % -2.98 % -12.72 % -5.36 %
In structures Single-family units -2.63 % -12.02 % -3.68 % -8.39 % -11.16 %
In structures with 2 - 4 units -10 % 20 % 18.75 % 18.18 % -63.64 %
In structures with 5 units or more 31.09 % 15.98 % -2.21 % -22.74 % 14.03 %
Northeast 9.68 % -31.25 % 25.74 % -35.64 % -6.15 %
Midwest 24.68 % -32.64 % 15.03 % -27.34 % 4.82 %
South 2.84 % 9.75 % -11.39 % -2.29 % 5.34 %
West -1.66 % 0 % -4.75 % -16.98 % -29.22 %

Source U.S. Department of Commerce

             
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