(Thousands of Units, Seasonally-Adjusted Annual Rate) Following a sharp drop in June, total housing starts rose sharply in July. At a seasonally-adjusted annualized rate of 1.661 million units, July starts were 5.7% above this June’s level.
| Thousands of Units, Seasonally-Adjusted Annual Rate | ||
| Single-Family | Multi-Family | |
| Q1/98 | 1242 | 340 |
| Q2 | 1243 | 326 |
| Q3 | 1274 | 363 |
| Q4 | 1352 | 349 |
| Q1/99 | 1389 | 384 |
| Q2 | 1307 | 298 |
| Q3 | 1295 | 315 |
| Q4 | 1265 | 305 |
| Q1/00 | 1225 | 290 |
| Q2 | 1185 | 285 |
| Q3 | 1200 | 300 |
| Q4 | 1225 | 310 |
| Historical Data: U.S. Department of Commerce Forecast: Professional Builder | ||
Single-family starts were up 4.4% over the month, with July 1999 activity 1.7% better than in July 1998. Multi-family starts rose 11.4% from the very low levels of the previous several months, but were 19.4% lower this July than last July.
Through the first seven months of 1999, total starts nationwide had risen by a healthy 5.2%. With a total of almost 793,000 units, single-family starts through July of this year were running 7.3% ahead of the 1998 pace. Multi-family starts in buildings with 2-4 units so far this year have come up 32.2% short of the January-July 1998 total, but starts in buildings with 5 or more units have increased at a 1.8% annualized pace.
Also See:
Consumer Confidence Down, Better Than Last Year
Double-digit Earnings Growth Belies Investors
Building Permits Up Slightly Since June
Permits Remain Strong
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