Category Archives: Housing Starts and Permits

Economic Update: U.S. HOUSING STARTS ROSE 3.3% IN MAY

U.S. housing starts rose 3.3% to 560,000 in May, stronger than the 546,000 expected by consensus though still not enough to offset the 8.8% drop to 541,000 (revised from 523,000) seen the month before. Housing starts are down 3.4% from last May. Single family starts were up 3.7% to 419,000 pace, offsetting the 3.3% decline […]

The chicken or the egg? Isn’t housing supposed to lead the recovery?

In most recent economic recoveries, residential construction has led the general economic recovery.  Home purchases are very sensitive to interest rates, which tend to be their lowest at the end of a recession. Consequently, interest sensitive purchases, such as homes and automobiles, are the first to rebound at the start of a recovery. This time […]

Economic Update: Housing Starts

Housing starts dropped 10.6% in April, to an annual rate of 523,000 from an upwardly revised 585,000 in March. The consensus was for 570,000 starts.  Starts are down 12.8% from April 2010, when the tax rebate program was in full swing. Single-family starts dropped 5.1% to 394,000, while multi-family plunged 28.3% to 114,000. Starts rose […]

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