Housing starts in the US plunged 30.2% month-over-month to an annualized rate of 0.891 million in April of 2020, below market forecasts of 0.927 million. It is the lowest reading since February of 2015 due to the coronavirus pandemic. Starts for the volatile multi-family segment slumped 40.3% to 0.234 million while single-family housing which is the largest share of the housing market, went down 25.4% to 0.65 million. Declines in housing starts were seen in all regions: the South (-26% to 0.532 million), the West (-43.4% to 0.184 million), the Midwest (-14.9% to 0.131 million) and the Northeast (-42.6% to 0.044 million). Year-on-year, housing starts sank 29.7%. Figures for March were revised upwards to 1.276 million from 1.216 million.
Housing Starts in the United States averaged 1428.98 Thousand units from 1959 until 2020, reaching an all time high of 2494 Thousand units in January of 1972 and a record low of 478 Thousand units in April of 2009. This page provides the latest reported value for - United States Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Housing Starts - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.
Housing Starts in the United States is expected to be 1240.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Starts in the United States to stand at 1180.00 in 12 months time. In the long-term, the United States Housing Starts is projected to trend around 1070.00 Thousand units in 2021, according to our econometric models.