Housing Starts Plunge Year over Year

HOUSING STARTS

• Privately-owned housing starts in April were at a seasonally adjusted annual rate of 458,000.
• This is 12.8 percent below the revised March estimate of 525,000 and is 54.2 percent below the revised April 2008 rate of 1,001,000.

Single-family housing starts in April were at a rate of 368,000; this is 2.8 percent above the revised March figure of 358,000.

The April rate for units in buildings with five units or more was 78,000.

Source Census Bureau

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The Real Picture on Housing Starts--Chart

They a the picture is worth a thousand words. You can decide for yourself.

HOUSING STARTS

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 583,000. This is 22.2 percent (±13.8%) above the revised January estimate of 477,000, but is 47.3 percent (±5.3%) below the revised February 2008 rate of 1,107,000.

Single-family housing starts in February were at a rate of 357,000; this is 1.1 percent (±11.0%)* above the January figure of 353,000.

The February rate for units in buildings with five units or more was 212,000.

Source: ST. Louis Federal Reserve, Census Bureau

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