US Housing Starts Fall For 2nd Month


Housing starts in the United States went down 2.6 percent from the previous month to a seasonally adjusted annualized rate of 1172 thousand in April of 2017, following a downwardly revised 1203 thousand in the previous month and worse than market expectations of a 3.7 percent rise. It is the weakest construction activity in five months as starts fell in the South and the Northeast.

The volatile multi-family segment declined 9.6 percent to 328 thousand while single-family, the largest segment of the market edged up 0.4 percent to 835 thousand. Starts slumped in the Northeast (-37.3 percent to 79 thousand) and the South (-9.1 percent to 592 thousand) but rose in the Midwest (41.1 percent to 206 thousand) and the West (5.4 percent to 295 thousand). 

Also, building permits dropped 2.5 percent to a seasonally adjusted annualized rate of 1229 thousand from a revised 1260 thousand and compared to market expectations of 1270 thousand. Single-family authorizations dropped 4.5 percent to 789 thousand while multi-family permits rose 1.4 percent to 440 thousand. Among regions, building permits declined in the Northeast (-10.3 percent) and in the South (-7.4 percent) but rose in the West (8.7 percent) and in the Midwest (1 percent).

US Housing Starts Fall For 2nd Month


U.S. Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
5/16/2017 1:26:35 PM