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U.S. Total Housing Starts Pop To Highest Levels Since 2006- Dow Jumps
United States Of America – Housing Starts in the United States are having a late winter pop as we saw new Total Housing Starts pop to the highest levels since 2006. Momentum data shows strong signs as starts defy recent Builder Confidence surveys from U.S. Home Builders.
Due to political climate and upcoming elections multifamily developers, mostly private equity investment and corporations, tend to be more stable and prepared for development based on profit and demand.
During strong political climates like the current one political leaning developers and builders are showing a decreased effort and economic support leading up to an opposition election. A Bylt survey shows a trend currently where employee over time is currently being cut in peak season and reduced lax job scheduling applies which will weigh on economic output and production this year.
Multifamily units carried momentum of Total Overall Housing Starts in the United States with the Midwest and Northeast showing the strongest projected gains.
Total Overall New Construction Housing Starts
Total Overall New Single Family Only Housing Starts
Housing Starts in the United States increased by 0.3 percent to a seasonally adjusted annualized rate of 1.793 million in March 2022, the highest since June 2006 and exceeding market expectations of 1.745 million.
In addition, figures for February were also revised higher, from 1.769 million to 1.788 million.
House starts with five or more units increased by 7.5 percent to 0.574 million, while single-family starts decreased by 1.7 percent to 1.2 million.
Housing starts are still recovering from a low in January, when pandemic-related labor shortages and seasonal weather constraints slowed activity. A record low housing supply should continue to support home building and multi-family development.
However, mortgage rates continue to rise, material costs remain high, and supply constraints persist, putting downward pressure on house prices requiring modest control of long term inflation and increased wage growth.
The NorthEast saw the strongest gains with an incredible 110% gain over last month up 123,000+ units. Year over year NorthEast gain was 77.6% or 66,000 units.
For A Full Copy Of The U.S. Census Data Please See Below