Housing starts in the US declined 4.2% month-over-month to a seasonally adjusted annualized rate of 1.425 million in October of 2022, after falling by a downwardly revised 1.3% in September, and compared to market forecasts of 1.41 million. Single-family housing starts dropped 6.1% to a rate of 855 thousand while the rate for units in buildings with five units or more decreased 0.5% to 556 thousand. Starts were down in the Northeast (-34.7% to 96 thousand), the Midwest (-11.1% to 185 thousand); and the West (-10.6% to 336 thousand) while starts went up in the South (6.7% to 808 thousand). Compared to October 2021, housing starts fell 8.8%. The US housing market has been hit by soaring prices of materials and rising mortgage rates, which recently reached their highest level since 2001. source: U.S. Census Bureau
Housing Starts in the United States averaged 1433.87 Thousand units from 1959 until 2022, reaching an all time high of 2494.00 Thousand units in January of 1972 and a record low of 478.00 Thousand units in April of 2009. This page provides the latest reported value for - United States Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Housing Starts - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Housing Starts in the United States is expected to be 1370.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Housing Starts is projected to trend around 1500.00 Thousand units in 2023 and 1470.00 Thousand units in 2024, according to our econometric models.