2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Housing Starts  
Released On 4/18/2017 8:30:00 AM For Mar, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Starts - Level - SAAR1.288 M1.303 M1.262 M1.185 M to 1.285 M1.215 M
Permits - Level - SAAR1.213 M1.216 M1.250 M1.230 M to 1.260 M1.260 M

Highlights
The first quarter ended with a thud for housing starts which fell a very steep 6.8 percent to a 1.215 million annualized rate which is the weakest since November. Posting similar declines were both single-family homes, at an 821,000 pace, and multi-family, at 394,000. But both components do show nearly double-digit year-on-year growth though quarter-to-quarter rates are only slightly positive.

Permits appear to be the positive offset in this report, up 3.6 percent in the month for a 1.260 million rate that hits Econoday's high forecast. But strength is entirely on the multi-family side, up 14 percent to a 437,000 rate, while single-family homes, which have more price punch, actually fell 1.1 percent to 823,000.

March data are often difficult when seasonal factors, including heavy weather, are often at play. But the weakness in starts and strength in permits do point to a possible and favorable theme for the first-half economy in general: weakness in the first quarter followed by a sizable rebound in the second. And a 1.5 percent gain in homes permitted but not started does hint at a coming rebound.

Recent History Of This Indicator
Optimism among home builders has been very strong and acceleration is beginning to appear in actual residential construction. Growth in single-family starts is rising at a mid-single digit pace with permits, in a strong positive for the new home market, moving at a double-digit pace. For multi-family units, starts are rising in the double digits though permits, after 5 years of steady and strong building, have begun to slow. Forecasters see housing starts in March falling back to a 1.262 million annualized pace but with building permits continuing to strengthen to a 1.250 million rate.

Definition
A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation for the building.  Why Investors Care
 
[Chart]
Monthly figures are often volatile housing starts fluctuate more than many indicators. It takes several months for total housing starts to establish a trend. Consequently, we have depicted total starts relative to a five month moving average.
Data Source: Haver Analytics
 
 

2017 Release Schedule
Released On: 1/192/163/164/185/166/167/198/169/1910/1811/1712/19
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


powered by  [Econoday]