Construction authorizations for single-family homes continue falling

 · Housing starts in the US dropped 0.9 percent from a month earlier to a seasonally adjusted annual rate of 1,269 thousand units in May 2019, compared to market expectations of 1,239 thousand and following an upwardly revised 6.8 percent advance in April. Construction of single-family housing units led the decline. Housing Starts in the united states averaged 1430.39 thousand units.

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While starts recovered after two straight declines, homebuilding permits signaled weakness in coming months. The decline in authorizations was broad-based with the single-family segment dropping 6.1 percent, the most in seven years, and multifamily permits falling.

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Confidence among home builders held steady in March, an industry group reported Tuesday, even as another issued a call for more housing construction. of the single-family sector in 2016,” according.

Existing-home sales decline for fifth time in six months “A significant breakout in existing home sales. to a 1.6 percent annualized rate. The economy grew at a 3.2 percent pace in the first quarter. Spending on homebuilding contracted in the first.

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Singlefamily housing completions in May were at a rate of 890,000; this is. seasonally adjusted estimates of total building permits, housing.

Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the sharp drop, builder sentiment still remains in positive territory.

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For single-family homes, about one in every 50 permits is selected for the survey. Although about half of single family homes are started in the same month that the permit is issued, and more than 90 percent are started within 2 months of the month of issuance, the Census Bureau will continue to track unused permits for 60 months.

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