by Calculated Risk August 16, 2024 9:28 AM
Today’s Calculated Risk Real Estate Newsletter: Housing starts: Single-family home starts in July down 15% year-over-year, apartment starts down 18% year-over-year
Short excerpt:
Total housing starts for July came in below expectations, and starts for May and June were revised down. Very weak reports.
The third chart shows a month-by-month comparison of total construction starts for 2023 (blue) and 2024 (red).
Total construction starts in July were down 16.0% compared to July 2023.
The year-over-year decline in total construction starts was due to larger year-over-year declines in both multifamily and single-family home starts. Single-family home starts had increased year-over-year for 12 consecutive months, but the revision resulted in single-family home starts declining slightly year-over-year in May.
There’s a lot more in the article.
