Housing Economics - 04/16/2008 (Plain Text Version)

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In this issue:
Housing Starts Fall Further
Quick Read: Housing Statistics
The Seiders' Report: A Housing Overview by the NAHB's Chief Economist
Executive-Level Housing Forecast: Available for Download
Housing’s Contribution to State Economies at the Peak of the Boom
Building Permits & Employment Data for 361 Metropolitan Areas
Don't Know Your Local Housing Forecast?

Housing Starts Fall Further

Total housing starts fell to a 17-year low of 947,000, seasonally adjusted, in March 2008, representing a decline of 11.9 percent from the previous month. Both the single and multifamily sectors contributed to the overall contraction, the former falling to a 680,000 pace (down 5.2 percent) while apartment starts fell 25 percent to 267,000. Building permits fell 5.8 percent in March to a 927,000 unit pace.

Housing Starts and Building Permits for March 2008

DATE

CURRENT

LAST

% Change

Download Starts and Permits

Starts

4/16/2008

947Th

1.075M

- 11.9%

Permits

4/16/2008

927Th

984Th

- 5.8%

Total housing starts fell to a 17-year low of 947,000, seasonally adjusted, in March 2008, representing a decline of 11.9 percent from the previous month. Both the single and multifamily sectors contributed to the overall contraction, the former falling to a 680,000 pace (down 5.2 percent) while apartment starts fell 25 percent to 267,000. Total Building permits fell 5.8 percent in March to a 927,000 unit pace, as the single family component contracted by 6.2 percent and multifamily was down by 5.0 percent.

Read additional information and download data (Excel) for Housing Starts & Permits.

NAHB related press release:

"Builder Confidence Remains Unchanged In April" (03/15)