Friday, April 16, 2010

Housing Starts mixed in March

by Bill McBride on 4/16/2010 08:30:00 AM

Total Housing Starts and Single Family Housing Starts Click on graph for larger image in new window.

Total housing starts were at 626 thousand (SAAR) in March, up 1.6% from the revised February rate, and up 30% from the all time record low in April 2009 of 479 thousand (the lowest level since the Census Bureau began tracking housing starts in 1959).

Single-family starts were at 531 thousand (SAAR) in March, down 0.9% from the revised February rate, and 49% above the record low in January and February 2009 (357 thousand).

Total Housing Starts and Single Family Housing StartsThe second graph shows total and single unit starts since 1968. This shows the huge collapse following the housing bubble, and the slow and sluggish recovery in housing starts.

Here is the Census Bureau report on housing Permits, Starts and Completions.

Housing Starts:
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 626,000. This is 1.6 percent (±15.2%)* above the revised February estimate of 616,000 and is 20.2 percent (±15.3%) above the March 2009 rate of 521,000.

Single-family housing starts in March were at a rate of 531,000; this is 0.9 percent (±12.1%)* below the revised February figure of 536,000. The March rate for units in buildings with five units or more was 88,000.

Housing Completions:
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 656,000. This is 3.1 percent (±16.7%)* below the revised February estimate of 677,000 and is 21.2 percent (±8.9%) below the March 2009 rate of 833,000.

Single-family housing completions in March were at a rate of 486,000; this is 5.9 percent (±14.6%)* above the revised February rate of 459,000. The March rate for units in buildings with five units or more was 161,000.

Last 10 Posts