The Gypsum Files

Notes on the Rock Nobody Knows

Starts and Permits over One Million

with one comment

Interesting data on housing starts and why a surge in construction does not necessary mean a strong recovery.

Eye on Housing

Housing starts exceeded one million for first time since last year and housing permits were over one million for a third consecutive month. The increases were almost entirely in multifamily rental construction.
Multifamily construction soared 40% to 423,000 starts, the highest since January 2006 and permits also rose 20% to 478,000, the highest in almost six years. Multifamily starts were particularly strong in the Midwest where they more than doubled from an unusually low 42,000 to 100,000.

Single-family starts increased 5,000 (on a seasonally-adjusted annual basis) to 649,000 from an upwardly revised March that was 635,000. Single-family permits rose 2,000 but also from an upwardly revised March that was 592,000. Single-family starts were unchanged in the Northeast and down 2.6% in the South while rising 5.5% in the Midwest and 5.8% in the West.

The rise in multifamily is indicative of the continued demand for rental apartments by young, newly-formed…

View original post 162 more words


Written by Elizabeth McCullough

May 19, 2014 at 10:07 am

One Response

Subscribe to comments with RSS.

  1. […] housing starts grew to one million a year during the boom that started in 1948.  (By contrast, housing starts in 2009 were fewer than 600,000 and are just now breaking one million a […]


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: