US Housing Starts Fall Led by Single-Family Homes Housing starts in the US fell 8.7 percent from a month earlier to a seasonally adjusted annual rate of 1,162 thousand units in February 2019, following a downwardly revised 11.7 percent surge in January. It was the largest decline in housing starts since last June.

Implications: Housing starts surpassed expectations in May, coming in at a 1.269 million annualized pace and signaling continued signs of life in home building in the second quarter. Yes, today’s headline monthly change showed a decline of 0.9%. But this is only because April’s reading was revised up to a 1.281 million annualized pace from a prior reading of 1.235 million.

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The percent decline was the largest in eight months, and bad weather could have contributed to the sharp drop in homebuilding last month. Housing starts data for January and December were revised higher. Building permits fell 1.6 percent to a rate of 1.296 million units in February.

On a population-adjusted basis, housing starts remain 50% below the post. February 2018, starts have averaged the current equivalent of just 1.1 million units per year. The rate of growth in.

Canadian real estate prices made notable monthly and year-over-year (YOY) movements. The monthly decline is the largest for a February in the history of the index, excluding one made in 2009. The YOY increase is the third smallest outside of recession, with only July and August 2018 coming in smaller.

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Single-family homebuilding, which accounts for the largest. since racing to near a 9-1/2-year high in February. Single-family building permits fell 1.9% to a 779,000 unit-rate. The third straight.

New home construction fell in February. Total housing starts were down 8.7 percent to 1.16 million units (SAAR) in February. Single-family housing starts dropped 17.0 percent to 805,000 homes (SAAR) after rebounding in January to their highest pace since mid-2007 (970,000 units); starts were down 10.6 percent from a year earlier.

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week, but average purchase mortgage originations for the month of February posted the largest monthly decline in five years, which may constrain home sales in the near term. The Housing Vacancy Survey offered some good news in the owner-occupied sector. The homeownership rate rose in the fourth quarter of 2018 to the highest level since the.

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