Multifamily decline pushes housing starts down Wednesday, October 17, 2018 [Washington] Led by a drop in multifamily production, total housing starts fell 5.3 percent in Sept. to a seasonally adjusted annual rate of 1.2 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce.
Housing starts in August, driven by multifamily, shot up 9.2% to a seasonally adjusted annual rate of 1,282,000, 9.4% above the August 2017 rate of 1,172,000, the Commerce Dept. said Wednesday. Single.
Housing Starts and Bank Profits – ibtimes.com – Homebuilders are getting busier. Housing starts rose 4 percent to 582,000 annualized unit pace in June, the highest six months and over 100,000 higher from the pace just two months ago.
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South florida construction starts plummeted for the second straight month. residential includes single-family and multifamily housing..
US Census Bureau New Residential Construction website. We measure the housing and construction industry, track homeownership rates, and produce statistics on the physical and financial characteristics of our homes.. Starts, and Completions; Additional Housing Resources at Census.
The September reading of 1.2 million is the number of housing units builders would start if they maintained this pace for the next 12 months. Within this overall number, single-family starts edged down 0.9 percent to 871,000 units. Meanwhile, multifamily starts-which includes apartment buildings and condos – fell 15.2 percent to 330,000.
As the saying goes, the numbers don’t lie. And in the multifamily construction industry, the figures are telling a story of robust and opportunistic growth in 2011. A look at new starts reveals.
Total housing starts rose 35% year-over-year in the first quarter, with multifamily starts up 9.1% to an annual rate of 340,000 units. In April of this year, housing starts slowed their pace, likely as a result of inclement weather. However, permits rose indicating more construction later in the second quarter.
Construction starts exceeded expectations in March on the back of strong multifamily development. The report was a joint effort of the Census Bureau and Department of Housing and Urban Development.
US Housing Starts are the total number of single family houses that started construction in a given month. Housing starts can be viewed as a forward looking metric to gauge the outlook for the economy. This metric most notably crashed during the 2008-2009 housing.