Electricalmarketing 2522 20180323emstarts Map 770
Electricalmarketing 2522 20180323emstarts Map 770
Electricalmarketing 2522 20180323emstarts Map 770
Electricalmarketing 2522 20180323emstarts Map 770
Electricalmarketing 2522 20180323emstarts Map 770

Housing Starts Slip on Weak Multi-Family While Single-Family Continues Growth

March 24, 2018
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,236,000 units, 7% below the revised January estimate

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,236,000 units, 7% below the revised January estimate of 1,329,000 and 4%  below the Feb. 2017 rate of 1,288,000. Single-family housing starts in February were at a rate of 902,000, 2.9% above the revised January figure of 877,000.

“Some multi-family pullback is expected after an unusually strong January reading,” said NAHB Chief Economist Robert Dietz. “Multi-family housing starts should continue to level off throughout the year. Meanwhile, the growth in single-family housing production is in line with our 2018 forecast for gradual, modest strengthening in this sector of the housing market.”