Housing starts fall to slowest pace since 2017 led by flood-ravaged Midwest

Department of Housing and Urban Development | April 19, 2019

Housing starts in March fell to the slowest pace in almost two years, according to a reportfrom the Department of Housing and Urban Development and the Department of Commerce. Residential starts slumped 0.3% to a 1.139 million annualized pace after a downwardly revised 1.142 million rate in the prior month, according to the report. The decrease was led by single-family starts while multifamily starts, a category including condominiums and apartments that tends to be more volatile, remained unchanged from the prior month. Permits, an indicator of future construction, fell 1.7% to a 1.27 million rate.

Spotlight

The existing stock of rental housing falls significantly short of the need in many areas of the country, along at least two dimensions. The shortage of units that are affordable given the incomes of the population is one well-known problem. In addition, the sizes and configurations of available housing frequently do not match the specific needs of prospective tenants.

Spotlight

The existing stock of rental housing falls significantly short of the need in many areas of the country, along at least two dimensions. The shortage of units that are affordable given the incomes of the population is one well-known problem. In addition, the sizes and configurations of available housing frequently do not match the specific needs of prospective tenants.

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