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US housing starts slowed for two consecutive months – Apartment housing plummeted – Bloomberg



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JuneThe number of housing starts in the US has been negative for two consecutive months. The single-family house recovered, but the housing complex stagnated.

Key points

  • Housing starts (seasonally adjusted annualized rate) decreased by 0.9% MoM to 1.25 million households
    • Lowest in three months
    • The median market forecast is 1,260,000
    • May was down to 1.65 million households – breaking news of 1.296 million households
  • The leading indicator of construction startThe number of permits for housing starts dropped by 6.1% in June,
    • Market expectation is 1.3 million
    • Reflects a decrease in the application for housing starts
U.S.A. single-family housing starts have shown limited momentum

Insight

  • The number of single-family housing starts rose 3.5% to 847,000, and the number of permits increased 0.4% to 813,000
  • Changes in the number of large-scale housing starts decreased by 9.2%, permits decreased by 16.8%

Detailed

  • The number of starts has increased in two of the four regions. The northeastern region increased by 31.3% and the Midwest increased by 27.1%. The South decreased 9.2%, the West decreased 4.9%
  • The number of starts is about 165,000, which is the lowest level in about a year. Indicating that the order backlog of construction companies is decreasing
  • See table for details of statistics

Origin:U.S.A. Housing Starts Fell in June on Fewer Multifamily Units (1) (excerpt)
U.S.A. June Housing Starts Fell to 1,253k Annualized; Est. 1,260k (excerpt)

(Update by adding details.)

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