US housing starts for March 1139K vs 1225K estimate

US housing starts for March from the Census Bureau

  • Prior month report
  • Housing starts prior month 1162K revised to 1142K
  • Housing starts -0.3% vs 5.4% exp
  • 6- month average 1189K
  • Building permits 1269K vs 1300K exp
  • Building permits prior 1291K unrevised at 1291K
  • Permits -1.7% vs 0.7% exp
  • Midwest starts fell -17.6%
  • West rose 31.4%
  • Single family starts fell -0.4% and permits were down -1.1%
  • Multi family was unchanged after falling -2.7% last month

Housing starts are at the slowest pace since May 2017.  Next week existing home sales will be released.  Existing home sales account for 90% of the market.  They are expected to come off from last months largest increase since 2015.  The expectations are for 5.3M pace down from 5.51M in February.  


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