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US residential construction stabilises in March

10.05.2019 − 

In the USA housing starts, adjusted to account for seasonal fluctuations, remained reasonably stable compared to the preceding twelve months in the twelve-month period up to and including March at 1.139m units. In February, according to figures corrected by the U.S. Census Bureau and U.S. Department of Housing and Urban Development the number of housing starts dropped by 12.0% compared to the preceding month. In 2018 the number of housing starts had ranged between 1.140m units (December) and 1.334m units (January).

In the twelve months up to and including March housing starts in the area of detached houses, at 785,000 units, were also at around the same level as the preceding month. Concerning multi-family houses, a 3.4% decrease to 337,000 units was recorded.

At 1.269m units, building approvals in the twelve-month period to March were 1.7% down on the twelve-month period to February. Of these units, 808,000 were detached houses. This figure reflects a decrease of 1.1%. Approvals for dwellings in two- to four-family houses as well as in multi-family houses declined by 2.7% in each case to 36,000 units and 425,000 units respectively.

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