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U.S. Housing Starts Fall, but Prior Months Revised up; housing starts dropped 0.9% to a seasonally adjusted annual rate of 1.269 million units last month amid a drop in the construction of single-family housing units, the Commerce Department said on Tuesday.
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Implications: Housing starts surpassed expectations in May, coming in at a 1.269 million annualized pace and signaling continued signs of life in home building in the second quarter. Yes, today’s headline monthly change showed a decline of 0.9%. But this is only because April’s reading was revised up to a 1.281 million annualized pace from a prior reading of 1.235 million.
Housing starts slipped 0.9% in May to a seasonally adjusted rate of 1.269 million. 1.235 million previously reported. Starts for May are 4.7% below the May 2018 rate of 1.332 million units.
Housing starts reversed course in May, signaling a slowdown in production, according to the latest report from the U.S. Dept. of Housing and Urban Development and the U.S. Dept. of Commerce. According to the analysis, housing starts fell 0.9% in May 2019 to a seasonally adjusted annual rate of 1.269 million units.
Housing starts slipped 0.9% in May to a seasonally adjusted rate of 1.269 million units, the Commerce department reported today. But the April starts were revised upward to a rate of 1.281 million units compared to the rate of 1.235 million previously reported.
however this is down 1.4% from the annual rate of 1.19 million in June 2017. Single-family housing starts increased 0.9% month-over-month to a rate of 862,000, up 0.9% from 854,000 in June. The July.
May US housing starts declined by 0.9% to a seasonally adjusted annual rate of 1.269 million units, according to the US Census Bureau and the US Department of Housing and Urban Development. That statistic is a drop from April’s 5.7% increase with a revised rate of 1.281 million units.
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Data for May was revised slightly down to show homebuilding falling to a pace of 1.265 million units, instead of slipping to a rate of 1.269 million units as previously reported. Economists polled by Reuters had forecast housing starts dipping to a pace of 1.261 million units in June.