at Calculated Risk on 1/17/2025 09:29:00 AM
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Increased to 1.499 million Annual Rate in December
A letter excerpt:
Total housing starts in December were above expectations and starts in October and November were revised up.
The third graph shows the month-to-month comparison for total starts between 2023 (blue) and 2024 (red).
Total starts were down 4.4% in December compared to December 2023. The YoY decrease in December total starts was mostly due to a difficult comparison to starts in December 2023.
Single family starts have been up year-over-year in 13 of the last 18 months, whereas multi-family has been up year-over-year in only 3 of the last 19 months. For the year, total starts were down 2.6% compared to 2023. Single family starts were up 6.6% YoY in 2024, and multi-family were down 18.8% YoY.
There is much more in the article.