Skip to main content

Sluggish Movement on Housing Starts

May 16, 2017
The housing markets in 21 of the nation’s largest 35 metros have more than recovered from the 2008 economic meltdown, according to a new data analysis from Zillow

Single-family housing starts in April were at a rate of 835,000, which is 0.4 percent above the revised March figure of 832,000, according to data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000, which is 2.6 percent below the revised March estimate of 1,203,000 but is 0.7 percent higher than the April 2016 rate of 1,164,000. 
 
Single-family authorizations in April were at a rate of 789,000, which is 4.5 percent below the revised March figure of 826,000. Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,229,000, which is 2.5 percent below the revised March rate of 1,260,000, but is 5.7 percent above the April 2016 rate of 1,163,000.
 
Lawrence Yun, chief economist at the National Association of Realtors (NAR), expressed concern that April’s data will reflect poorly on long-term planning.
 
“With housing starts declining in April, inventory shortages will continue for a longer period of time,” Yun said. “The intensifying housing shortage will push up home prices and rents, and easily above wage growth and the broad consumer price inflation. This continued, slow pace of construction of new homes is a major bottleneck to a faster economic and housing recovery.”

 
About the author
Published
May 16, 2017
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024