US housing starts recover somewhat up to August

09.10.2019 − 

In the USA housing starts in the twelve months up to and including August, according to preliminary figures and adapted to account for seasonal influences, increased by 12.3% to 1.364m units by comparison with the twelve-month period up to July and therefore reached the highest level of the last twelve years. The last time the U.S. Census Bureau and the U.S. Department of Housing and Urban Development recorded a higher figure was in June 2007 (1.448m units). In the following months housing starts steadily declined, and between July 2008 and February 2013 the figures were below the 1m units mark. In March 2013 this mark was then exceeded again for the first time. In the subsequent two years housing starts fluctuated between 835,000 and 1.092m units. Only since April 2015 has an increase been recorded.

In the twelve-month period up to August, work commenced on 919,000 detached houses (+4.4%). In the case of multi-family houses, housing starts increased more significantly by 30.9% to 424,000 units. With regard to the different regions, the most significant increase was re-corded in the north-east region (+30.5% to 124,000 units). Increases in housing starts were recorded in the south (+14.9% to 711,000 units) and mid-west (+15.4% to 210,000 units). In the west (319,000 units) housing starts remained stable compared with the previous month.

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