Drop in housing starts shows industry may weigh on growth

Drop in housing starts shows industry may weigh on growth

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It starts at 1600 GMT. to weaker economic growth. If confirmed, this could reinforce investors’ expectations of interest rate cuts later this year and a weaker pound. Next Wednesday’s GDP report.

Alkmaar Cheese Market in The Netherlands Expect slow growth in US housing market in 2019. Bill Wood Tweet Share. the trend in the monthly data for U.S. housing starts was unequivocally upward.. 2019 US auto market may be better.

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economists forecast 2.2% june housing Starts Drop. Starts Plunge 12.3%. A little more than half of the nation’s June drop was in the Midwest, where starts tumbled 35.8% after a 51.9% jump the prior month. The June data is considered a return to the region’s soft trend. Year-to-date, housing starts in the Midwest are running 2.9% below their pace in the first half of 2017, and single-family starts are 5.7% lower.

Highlights from Housing Starts (May) Residential starts decreased 5.5% to a 1.09m annualized rate (est. 1.22m), the weakest since September Starts in April were revised down to 1.16m, while March figures were also weaker than last reported Permits, a proxy for future construction, fell 4.9% to a 1.17m rate, the lowest since April 2016.

Labor and supply holding construction back. Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census bureau. privately owned housing starts decreased in June to a seasonally adjusted annual rate of 1.17 million, down 12.3% from May’s 1.34 million.

Our model shows that housing starts are likely to dip in 2019 before gradually recovering until 2022. Starts are then projected to hold relatively steady until 2025 (see figure 5). The initial drop in starts is primarily because existing vacant housing units are likely to cater to some part of demand for housing (arising due to population growth).

This growth notwithstanding, natural gas still has the market cornered in all regions. there has been a very real boom in.

Three straight months of declines in new-home construction show homebuilding may weigh on second-quarter growth, Commerce Department data showed Friday. Residential starts decreased 5.5% to a 1.09 million annualized rate (the estimate was 1.22 million), the weakest since September.

Pace of new-home sales suggests steady housing strength Homes for sale are remaining on market longer: Zillow Trulia is an all-in-one real estate site that gives you the local scoop about homes for sale, apartments for rent, neighborhood insights, markets and trends to help you figure out exactly what, where, and when to buy, sell or rent. You can also find a real estate agent, view prices of recently sold homes, and see home values in your community.The housing market is stabilizing near 10-year highs, according to government data Wednesday that showed sales of new homes were slightly less than forecast. Single-family home sales increased 0.8% month-to-month to a 610,000 annualized pace (the estimate was 615,000).Former Fannie exec to lead Flagstar lending unit  · Flagstar Bancorp announced an expansion of its direct-to-consumer mortgage lending platform with the addition of a team headed up by Rocky Stubbs, who now has a SVP and director of Consumer Direct Lending title. Stubbs will lead Flagstar’s Michigan-based direct-to-consumer group, along with a team of 20 professionals who will operate from Dallas.

Single-family housing starts expected to decline 3%. BUILDER Construction Starts Expected to Remain Flat in 2019 Single-family housing starts expected to decline 3%.

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