[TSP_Strategy] US New Residential Construction

 

Charts of the Week

U.S. New Residential Construction

Chart of the Week for February 23, 2018 - March 1, 2018

On a monthly basis, the U.S. Census Bureau releases statistics on the construction of new privately owned residential structures (generally known as "housing starts"), which is obtained from local permit issuing authorities as well as homebuilders. The chart above shows the monthly housing starts in millions for the past 12 months.

The January 2018 report of 1.33 million units was 9.7% above the December 2017 report and 7.3% higher than the January 2017 report. Strong multifamily starts led the increase in January 2018 and permits for new starts improved indicating continued growth over the next few months. Economists noted builder confidence is increasing, and that residential construction has seen a burst of hiring over the past five months, which is good for housing starts and the overall economy.

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