Housing Starts During March 2020
The U.S. Commerce Department this morning released its Housing Starts report for March 2020:
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Housing Starts:
Predicted: 1,350,000
Actual: 1,216,000
Change From Previous Month: -22.251% (-348,000 units)
Change From One Year Previous: +1.418% (+17,000 units)
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Building Permits:
Predicted: 1,300,000
Actual: 1,353,000
Change From Previous Month: -6.818% (-99,000 units)
Change From One Year Previous: +5.047% (+65,000 units)
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Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.
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---------------------------------------------------
Housing Starts:
Predicted: 1,350,000
Actual: 1,216,000
Change From Previous Month: -22.251% (-348,000 units)
Change From One Year Previous: +1.418% (+17,000 units)
---------------------------------------------------
Building Permits:
Predicted: 1,300,000
Actual: 1,353,000
Change From Previous Month: -6.818% (-99,000 units)
Change From One Year Previous: +5.047% (+65,000 units)
----------------------------------------------------
Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.
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| Chart: Housing Starts - March 2020 Update |
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Labels: building_permits, Coronavirus, COVID-19, COVID19, hard_data, housing, housing_starts, real_estate
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posted by Steve Brown | 4/16/2020 10:18:00 PM
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