Electricalmarketing 2402 20180223emstarts Map 1024 V2
Electricalmarketing 2402 20180223emstarts Map 1024 V2
Electricalmarketing 2402 20180223emstarts Map 1024 V2
Electricalmarketing 2402 20180223emstarts Map 1024 V2
Electricalmarketing 2402 20180223emstarts Map 1024 V2

Housing Starts Begin 2018 with Impressive Monthly and Year-Over-Year Increases

Feb. 23, 2018
Housing starts in January were at a seasonally adjusted annual rate of 1,326,000, +9.7% above the revised December estimate of 1,209,000

Housing starts in January were at a seasonally adjusted annual rate of 1,326,000, +9.7% above the revised December estimate of 1,209,000 and +7.3% above the January 2017 rate of 1,236,000. Single-family housing starts in January hit 877,000, +3.7% above the revised December figure of 846,000. The January multi-family rate was 431,000, +19.7% above December.

“Demand for owner-occupied housing is rising due to favorable demographic tailwinds and a healthy labor market. Increases in after-tax incomes should help prospective buyers save for a downpayment on a home,” said NAHB chief economist Robert Dietz. “As consumers continue to enter the single-family market, we should see builders increase production to meet this demand.”