Current reading 672,000 versus 576,000 in December, and 477,000 in April, 2009.
Original content Bob DeMarco, All American Investor
Showing posts with label starts. Show all posts
Showing posts with label starts. Show all posts
Tuesday, May 18, 2010
Housing Starts: Total: New Privately Owned Housing Units Started (Graph)
Current reading 672,000 versus 576,000 in December, and 477,000 in April, 2009.
Original content Bob DeMarco, All American Investor
Wednesday, November 18, 2009
Housing Starts New Privately Owned Housing Units Started (Chart)
New Residential Construction. U.S. Department of Commerce. Thousand of units.
529,000 versus versus 2,207,000, February, 2005
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Original content Bob DeMarco, All American Investor
529,000 versus versus 2,207,000, February, 2005
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50 Year Low Privately Owned Housing Starts: 5-Unit Structures or More (Chart)
48,000 units versus 1,000,000 March, 1973.
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Friday, July 17, 2009
New Residential Construction, Housing Starts (Graph)
Subscribe to All American Investor via EmailShowing signs of a bottom. However, not enough to stem the tide of unemployment. Might account for 300,000 new jobs.
Much of this surge is coming from new homes for investors with incomes in the $30,000 to $80,000 income brackets.
Housing starts are still running 46 below June, 2008. Permits are down 52 percent year over year.
HOUSING STARTS
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 582,000. This is 3.6 percent above the revised May estimate of 562,000, but is 46.0 percent (±4.3%) below the June 2008 rate of 1,078,000.
Single-family housing starts in June were at a rate of 470,000; this is 14.4 percent above the revised May figure of 411,000.
The June rate for units in buildings with five units or more was 101,000.
BUILDING PERMITS
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 563,000.
This is 8.7 percent is above the revised May rate of 518,000, but is 52.0 percent below the June 2008 estimate of 1,174,000.
Single-family authorizations in June were at a rate of 430,000; this is 5.9 percent above the revised May figure of 406,000.
Authorizations of units in buildings with five units or more were at a rate of 109,000 in June.
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Tuesday, May 19, 2009
Housing Starts Disaster (Graph)
Housing Starts, Chart
The chart shows the severity of the drop to 458,000 starts. The all time record low for this series dating back to 1959. The chart also compares this cycle to the previous four recession. Not a good picture.
On the hand, it is a disaster. On the other hand, is the glass half full?
The core level of custom houses being built is in the range of 200,000 -- 250,000. These houses are pre-ordered and built to buyer specifications. So, the number of houses being started by building companies is dwindling down toward the 200,000 area.
In the short run, this is bad for the economy. On the other hand, the overhanging supply of houses might get drawn down sooner than expected.
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The chart shows the severity of the drop to 458,000 starts. The all time record low for this series dating back to 1959. The chart also compares this cycle to the previous four recession. Not a good picture.
On the hand, it is a disaster. On the other hand, is the glass half full?
The core level of custom houses being built is in the range of 200,000 -- 250,000. These houses are pre-ordered and built to buyer specifications. So, the number of houses being started by building companies is dwindling down toward the 200,000 area.
In the short run, this is bad for the economy. On the other hand, the overhanging supply of houses might get drawn down sooner than expected.
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 Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments. |
Housing Starts Plunge Year over Year
HOUSING STARTS
The April rate for units in buildings with five units or more was 78,000.
This is the lowest number on record. And, obviously a new low for the down move in housing starts.
Source Census Bureau
- Privately-owned housing starts in April were at a seasonally adjusted annual rate of 458,000.
- This is 12.8 percent below the revised March estimate of 525,000 and is 54.2 percent below the revised April 2008 rate of 1,001,000.
The April rate for units in buildings with five units or more was 78,000.
This is the lowest number on record. And, obviously a new low for the down move in housing starts.
Source Census Bureau
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| Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments. |
Tuesday, March 17, 2009
The Real Picture on Housing Starts--Chart
They say a picture is worth a thousand words. You can decide for yourself.
HOUSING STARTS
Source: ST. Louis Federal Reserve, Census Bureau
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 583,000. This is 22.2 percent (±13.8%) above the revised January estimate of 477,000, but is 47.3 percent (±5.3%) below the revised February 2008 rate of 1,107,000.
Single-family housing starts in February were at a rate of 357,000; this is 1.1 percent (±11.0%)* above the January figure of 353,000.
The February rate for units in buildings with five units or more was 212,000.
Source: ST. Louis Federal Reserve, Census Bureau
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Are the Housing Start Numbers Really a Surprise?
On the business channels, like CNBC, they are really talking up the surprise in the housing starts number. Are they really a surprise?
I wrote previously about how 80 percent of the housing crisis is contained in 35 counties. That is, 35 counties throughout the entire country. Much of the crisis is contained in a small number of geographic areas. Although, the unemployment situation is certainly becoming a factor nationally in he housing statistics. This would be especially true if you live in an area hit by major layoff.
The numbers reported today if looked at in the proper context are pitiful. The seasonally adjusted annual rate of 583,000 units is nothing to write home to "mama" about. This compares to the February 2008 rate of 1,107,000. Down 47 percent.
The more important building permits number rose 3 percent, to a seasonally adjusted annual rate of 547,000. This number does not indicate a surge in the housing market.
The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units.
February's pickup was led by a big increase in apartment construction.
By region, all parts of the country reported an increase in overall housing construction, except for the West, which led the housing boom and has been hard hit by the bust.
Overall housing construction activity fell to a pace of 477,000 units in January, according to revised figures. That was a little higher than first reported but still marked a record low.
Applications for building permits, considered a reliable sign of future activity, also rose in February by 3 percent to an annual rate of 547,000. Economists were expecting permits to fall to a pace of 500,000 units.
Even with February's rare burst of activity, housing construction is down a whopping 47.3 percent from a year ago.
The collapse of the once high-flying housing market has been devastating to the United States' economic health.
Its spreading fallout has contributed to big pullbacks by consumers and businesses alike, plunging the economy into a recession now in its second year.
The Obama administration has announced a $75 billion program to stem skyrocketing home foreclosures, which have dumped even more properties on an already crippled market.
More than 2 million American homeowners faced foreclosure proceedings last year, and that number could soar as high as 10 million in the coming years depending on the severity of the recession, according to a report last month by Credit Suisse.
Home mortgages are harder to come by because of the credit crisis and unemployment is at a quarter-century peak of 8.1 percent, factors that will make it difficult for the depressed housing market to snap back to full health.
Builders aren't optimistic that will happen any time soon.
The National Association of Home Builders' housing market index was flat in March at a reading of nine. That was one point above the all-time low reached in January. Readings lower than 50 indicate negative sentiment about the market. The index has been below 10 since November, reflecting the toughest market conditions in a generation.
Tighter lending standards for home mortgages, rising defaults and fear about the housing market's future have sidelined buyers, an absence felt acutely by homebuilders such as D.R. Horton , Pulte Homes and Centex .
Copyright 2009 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/29734541/
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I wrote previously about how 80 percent of the housing crisis is contained in 35 counties. That is, 35 counties throughout the entire country. Much of the crisis is contained in a small number of geographic areas. Although, the unemployment situation is certainly becoming a factor nationally in he housing statistics. This would be especially true if you live in an area hit by major layoff.
The numbers reported today if looked at in the proper context are pitiful. The seasonally adjusted annual rate of 583,000 units is nothing to write home to "mama" about. This compares to the February 2008 rate of 1,107,000. Down 47 percent.
The more important building permits number rose 3 percent, to a seasonally adjusted annual rate of 547,000. This number does not indicate a surge in the housing market.
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Housing Starts Post Surprise Rebound, Up 22%
The number of new housing projects that builders broke ground on in February rose sharply, defying economists' forecasts for yet another drop in activity.The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units.
February's pickup was led by a big increase in apartment construction.
By region, all parts of the country reported an increase in overall housing construction, except for the West, which led the housing boom and has been hard hit by the bust.
Overall housing construction activity fell to a pace of 477,000 units in January, according to revised figures. That was a little higher than first reported but still marked a record low.
Applications for building permits, considered a reliable sign of future activity, also rose in February by 3 percent to an annual rate of 547,000. Economists were expecting permits to fall to a pace of 500,000 units.
Even with February's rare burst of activity, housing construction is down a whopping 47.3 percent from a year ago.
The collapse of the once high-flying housing market has been devastating to the United States' economic health.
Its spreading fallout has contributed to big pullbacks by consumers and businesses alike, plunging the economy into a recession now in its second year.
The Obama administration has announced a $75 billion program to stem skyrocketing home foreclosures, which have dumped even more properties on an already crippled market.
More than 2 million American homeowners faced foreclosure proceedings last year, and that number could soar as high as 10 million in the coming years depending on the severity of the recession, according to a report last month by Credit Suisse.
Home mortgages are harder to come by because of the credit crisis and unemployment is at a quarter-century peak of 8.1 percent, factors that will make it difficult for the depressed housing market to snap back to full health.
Builders aren't optimistic that will happen any time soon.
The National Association of Home Builders' housing market index was flat in March at a reading of nine. That was one point above the all-time low reached in January. Readings lower than 50 indicate negative sentiment about the market. The index has been below 10 since November, reflecting the toughest market conditions in a generation.
Tighter lending standards for home mortgages, rising defaults and fear about the housing market's future have sidelined buyers, an absence felt acutely by homebuilders such as D.R. Horton , Pulte Homes and Centex .
Copyright 2009 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/29734541/
| Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments. |
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