· Rising construction costs and a growing shortage of skilled labor contributed to housing starts falling further in June, according to the latest report from the U.S. Department of Housing and Urban Development and the U.S. Department of Commerce. According to the analysis, housing starts fell 0.9% in June 2019 to a seasonally adjusted annual rate of 1.253 million units.
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Total housing starts rose 35% year-over-year in the first quarter, with multifamily starts up 9.1% to an annual rate of 340,000 units. In April of this year, housing starts slowed their pace, likely as a result of inclement weather. However, permits rose indicating more construction later in the second quarter.
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Issuance of new building permits rose 6.2 percent to a seasonally adjusted annual rate of 1.034 million units in October due primarily to a double-digit increase on the multifamily side. figures.
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4 days ago · U.S. homebuilding fell again in June for its second straight month and permits have dropped to a two-year low, despite lower mortgage rates. The Commerce Department reported that housing starts fell 0.9% to a seasonally adjusted annual.
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Housing Starts. Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,173,000. This is 12.3 percent (8.3 percent) below the revised May estimate of 1,337,000 and is 4.2 percent (10.2 percent)* below the June 2017 rate of 1,225,000.
Multifamily construction starts at the U.S. level in 2017 dropped 12% to $84.9 billion, which followed a 10% increase in 2016 ($96.1 billion). commercial building construction starts in 2017 slipped 3% to $109.8 billion, staying close to the 2016 level ($113.1 billion) achieved with a 22% hike that year.
4 days ago · U.S. new-home construction fell in June for a second month as a drop in apartment building outweighed a pickup in single-family projects. Residential starts.
4 days ago · Housing starts slipped 0.9% to an annual pace of 1.25 million last month. That’s how many homes would be built in 2019 if construction took place at same rate over the entire year as it did in June.
* The indicator: The Commerce Department reported housing starts for August. * What they did: Construction of homes and apartments rose 2.1% to a seasonally adjusted.