Tag Archive for ‘starts’

Production of New Apartments: Upward Trend Continues

In October, the previous month’s upward trend in multifamily production continued, as starts in buildings with five or more apartments came in at a (seasonally adjusted annual) rate of 285,000.  Although the line isn’t completely solid, buildings with at least five apartments are generally a reasonable way to draw a distinction between smaller “mom and pop” operations and  the province… Read More ›

Housing Starts Continue Advance

HUD and the US Census Bureau reported housing starts for October were up 3.6% from their elevated September level to a seasonally-adjusted annual level of 894,000, the highest since July 2008. On an annual basis, starts increased 41.9% from October 2011. The monthly increase was entirely in multifamily rental production, which rose 11.9% while single-family production was virtually unchanged.  … Read More ›

Apartment Production Numbers Hit 4-Year Highs in September

In September, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 260,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is up 25 percent from August, and the highest the five-plus starts rate has been since September of 2008.  To illustrate how far the market has come from the… Read More ›

Housing Construction Accelerates

Housing starts and housing permits for September showed a surprisingly strong growth. Overall starts increased 15% to an annualized rate of 872,000, the highest since July 2008. The increase was nearly universal with single-family starts increasing 11% to 603,000, the highest since August 2008, and multifamily increasing 25% to 269,000, the highest since September 2008. Three census regions also saw… Read More ›

Single-Family Built-for-Rent Share Remains Elevated

Despite some recent ups and downs, the share of single-family homes built for rental purposes remains higher than historical norms. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, the market share of single-family homes built for rental purposes, as measured on a one-year moving average, stands at 4.3% for the 2nd quarter of… Read More ›

Multifamily Starts Post Small Drop in August, Remain Strong

In August, the seasonally adjusted annual rate of starts  in buildings with five or more apartments was 208,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 2.8% decrease from the downwardly revised July starts rate. Despite the monthly drop, this rate is nearly 37% higher than the August 2011 rate of 5+ unit starts. … Read More ›

Housing Starts Continue Recovery

Housing starts increased 2.1% in August to a 750,000 seasonally-adjusted annualized (SAAR) level.  The increase was concentrated entirely in the single-family sector increasing 5.5% to an SAAR of 535,000, the highest since early 2010 just before the home buyer tax credit expired.  The improvement was broad based with increases in all four Census regions.  Multifamily starts dropped back to 215,000 SAAR, but the… Read More ›

Apartment Production Up Strongly Year Over Year

The Census Bureau’s preliminary estimate for starts in buildings with five or more apartments in July came in at  229,000 units (at a seasonally adjusted annual rate), up 9.6 percent from the revised figure for June (revisions to the May and June numbers were minor). The 3-month moving average has been very stable, hovering between 205,000 and 210,000 for the past… Read More ›

One-Fourth of All Single-Family Homes are Built in a Strip from Delaware to Florida

Traditionally, the Census Bureau reports statistics on new residential construction (including housing starts) only for the four principal census regions: Northeast, Midwest, South and West.  The geography is limited by the way the sample for the Survey of Construction is drawn.  In 2009, the sample was redrawn in a way that allows for slightly more geographic detail (i.e., nine census divisions). … Read More ›

Multifamily Starts Rebound in June

The Census Bureau’s preliminary estimate of starts in buildings with five or more apartments for June came in at 213,000 (at a seasonally adjusted annual rate).  This is a 17 percent increase from May and reversed well over half of the previous month’s decline.  (Month to month fluctuations on this order of magnitude are typical for multifamily construction. )  On a year-over-year basis, five-plus… Read More ›