New Housing Start Level in the first Quarter
Jun. 05, 2020
According to the open data, the housing start level has a common decrease in many countries in the first quarter of 2020. To a great extent, it is affected by the corona epidemic.
“Housing starts in the US plunged 30.2% month-over-month to an annualized rate of 0.891 million in April of 2020, below market forecasts of 0.927 million. It is the lowest reading since February of 2015 due to the coronavirus pandemic. Starts for the volatile multi-family segment slumped 40.3% to 0.234 million while single-family housing which is the largest share of the housing market, went down 25.4% to 0.65 million.
Declines in housing starts were seen in all regions: the South (-26% to 0.532 million), the West (-43.4% to 0.184 million), the Midwest (-14.9% to 0.131 million) and the Northeast (-42.6% to 0.044 million). Year-on-year, housing starts sank 29.7%. Figures for March were revised upwards to 1.276 million from 1.216 million.”"
(Commented by Trading Economics)
Source: Trading Economics