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

Housing Starts  
Released On 12/19/2017 8:30:00 AM For Nov, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Starts - Level - SAAR1.290 M1.256 M1.240 M1.191 M to 1.290 M1.297 M
Permits - Level - SAAR1.297 M1.316 M1.270 M1.250 M to 1.310 M1.298 M

A pivot higher is underway in the new home market. The latest evidence comes from housing starts and permits which matched their unusual October strength with stronger-than-expected results for November. Starts rose 3.3 percent to a 1.297 million annualized rate and though permits fell 1.4 percent to 1.298 million, they show a 1.4 percent gain for the key single-family category to a 862,000 rate. And starts for single-family homes, up 5.3 percent to 930,000, are the highest of the expansion, since 2007.

Total completions fell 6.1 percent to a 1.116 million rate which is bad news for supply where thin conditions have held back sales. But homes under construction rose, up 1.0 percent to 1.110 million. Regional data show start strength in the West and South where permits were also strong in possible evidence of a hurricane reversal.

New home sales shot higher in September and data from the sector haven't slowed down since in what looks to be a major positive for the fourth-quarter economy.

Consensus Outlook
Housing starts and permits had been flat most of the year but they did accelerate sharply in October, up 13.7 percent for starts to a 1.290 million annualized rate and up 7.4 percent for permits to 1.316 million (1.297 million initially reported). October's highlights included starts for single-family homes, up 5.3 percent to an 877,000 rate, and permits for multi-family homes which rose 15.9 percent to 466,000. Forecasters see give back in November with the consensus for starts at 1.240 million and permits at 1.270 million.

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
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]