- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller January 19, 2017
The housing market exhibited firm growth in 2016. Overall housing starts increased to 1.168 million, the highest level since 2007. The gain was paced by a rise in single-family starts to 783,000. Multi-family starts rose to 385,000. Building permits declined slightly last year to 1.171 million.
During December alone, total starts rebounded 11.3% to 1.226 million (AR, 5.7% y/y), and recouped most a November decline to 1.102 million in November, revised from 1.090. The Action Economics Forecast Survey expected 1.184 million starts. Starts of single-family homes declined 4.0%, however, in December to 795,000 (+3.9% y/y) from 828,000. It was the lowest level of starts in three months. Starts of multi-family units jumped by more than one half m/m to 431,000 (9.1% y/y), though these starts were very erratic m/m all during 2016. Building permits in December eased 0.2% (+0.7% y/y) to 1.210 million. They reached a peak of 1.334 million in June of 2015.
By region, housing starts in the Midwest, jumped 38.4% y/y to 227,000. Starts in the West also grew roughly one-third y/y to 331,000. In the South, however, starts weakened 3.2% y/y to 572,000. In the Northeast, starts declined 38.5% y/y to 96,000 during December.
The housing starts and permits figures can be found in Haver's USECON database. The expectations figure is contained in the AS1REPNA database.
|Housing Starts (000s, SAAR)||Dec||Nov||Oct||Dec Y/Y %||2016||2015||2014|
|Starts By Region|