Housing starts in the US sank 14.4% mom in May of 2022, the most since April 2020, as the housing market is facing high pressure from rising inflation and mortgage rates, which coupled with elevated building material costs and supply constraints weigh on consumers' affordability. The annual rate of total housing starts fell to 1.55 million last month from a revised 1.81 million in April which was the strongest reading since May of 2006. Single-family housing starts dropped 9.2% to 1.051 million and starts for units in buildings with five units or more plunged 26.8% to 0.469 million. Starts sank in the South (-20.7%) and the West (-17.8%) but rose in the Northeast (14.6%) and the Midwest (1.9%). source: U.S. Census Bureau
Housing Starts in the United States averaged 1433.61 Thousand units from 1959 until 2022, 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 June of 2022.
Housing Starts in the United States is expected to be 1700.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Housing Starts is projected to trend around 1500.00 Thousand units in 2023 and 1470.00 Thousand units in 2024, according to our econometric models.