Housing starts cooled in February after robust January

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Housing Starts and Permits The Census Bureau and the Department of Housing and Urban Development reported that housing starts pulled back in February after notching the fastest pace since August 2007 in January. New residential construction declined 7.0 percent from an annualized 1,329,000 units in January to 1,236,000 units in February.

Highlights of Housing Starts for February Residential starts fell 7% to a 1.24 million annualized rate (est. 1.29 million) after 1.33 million pace in prior month.

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.

The Motorcity - Construction Update February 2019 U.S. Housing Starts Cooled in February After Robust January By Tony Seruga U.S. new-home construction cooled by more than expected in February on a reversal in the volatile multifamily category, while building remained on pace to contribute to economic growth this quarter, government figures showed Friday.

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Housing starts fell 0.9% in May to 1,269 thousand after having jumped jumped 6.8% in April and 4.4% in March. Because these data are particularly volatile on a month-to-month basis, it is best to look at a 3-month moving average of starts (which is the series shown above).

Housing starts slip, driven by multifamily housing Results on housing construction were far less favorable in February, as home starts fell 7% to a 1.24 million annualized pace. The volatile multi-family component of starts drove the decline during the month, reversing January’s 25.6% gain with an even larger 26.1% decline.

The residential (REZ), industrial (INDS) and data center (SRVR) REIT sectors have been the stand-outs since the start. sectors has cooled, helping to solidify real estate fundamentals across major.

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