by Calculated Risk September 18, 2024 9:27 AM
Today’s Calculated Risk Real Estate Newsletter: Housing starts in August increased to 1.356 million from a year ago
Short excerpt:
Total housing starts for August beat expectations, while June and July starts were revised up slightly. A solid report.
The third chart shows a month-by-month comparison of total construction starts for 2023 (blue) and 2024 (red).
Total construction starts in August increased 3.9% compared to August 2023.
Total construction starts rose in August compared to the same month a year ago, driven by increases in starts for both multifamily and single-family homes.
Single-family home starts have increased year-over-year in 12 of the past 14 months, while multifamily starts have increased year-over-year in only two of the past 14 months. Year-to-date (YTD), total starts are down 4.0% compared to the same period in 2023. Single-family home starts are up 10.4% year-to-date, while multifamily starts are down 32.6% year-to-date.
There’s a lot more in the article.
