by calculated risk May 16, 2024 08:32:00 AM
From the Census Bureau: Allow, start, complete
Housing starts:
Private housing starts in April hit record high Seasonally adjusted annual rate 1,360,000. This is 5.7% higher than the revised March forecast of 1,287,000, but 0.6% lower than the April 2023 forecast of 1,368,000. The number of single-family housing starts in April was 1,031,000. This is 0.4 percent lower than the March revised figure of 1,035,000. His April share of units in buildings with five or more units was 322,000 units.Building permit:
The annual number of private housing units that received building permits in April (seasonally adjusted) was 1.44 million units. This is 3.0 percent below the March revised rate of 1,485,000 and 2.0 percent below the April 2023 rate of 1,470,000. The number of single-family home permits in April was 976,000. This is 0.8% lower than the March revised figure of 984,000. Approvals for buildings with five or more units were 408,000 units in April.
Emphasis added
Click on the graph to see a larger image.
The first graph shows the number of single-family and multifamily housing starts since 2000.
Multifamily housing starts (blue, two or more units) increased in April compared to March. The number of housing starts decreased by 33.1% compared to the previous year..
Single-family housing starts (in red) decreased slightly in April, increasing by 17.7% compared to the same month last year.
The second graph shows the number of single-family and multi-family housing starts since 1968.
This marks the beginning of the massive collapse and subsequent eventual recovery following the housing bubble, and the recent single-family housing collapse and recovery.
Total housing starts in April exceeded expectations. but, The number of construction starts for February and March has been revised downward.
I’ll eat more later…
