New Residential Construction Report: June 2016

Yesterday’s New Residential Construction Report showed improvement with total permit activity rising 1.5% since May while total starts increased a notable 4.8% over the same period.

Single family housing permits, the most leading of indicators, rose 1.0% from May to 738K single family units (SAAR), rising 5.1% above the level seen a year earlier and still remained well below levels seen at the peak in September 2005.

Single family housing starts rose 4.4% from March to 778K units (SAAR) rising 13.4% above the level seen a year earlier but still remained well below the levels seen at the peak in September 2005.

New Residential Construction Report: April 2016

Today’s New Residential Construction Report showed improvement with total permit activity rising 3.6% since March while total starts declined a notable 6.6% over the same period.

Single family housing permits, the most leading of indicators, rose 1.5% from March to 736K single family units (SAAR), rising 8.4% above the level seen a year earlier and still remained well below levels seen at the peak in September 2005.

Single family housing starts rose 3.3% from March to 778K units (SAAR) rising 4.3% above the level seen a year earlier but still remained well below the levels seen at the peak in September 2005.

New Residential Construction Report: March 2016

Today’s New Residential Construction Report showed pronounced weakness with total permit activity declining 7.7% since February while total starts declined a notable 8.8% over the same period.

Single family housing permits, the most leading of indicators, declined 1.2% from February to 727K single family units (SAAR), but rose 13.2% above the level seen a year earlier and still remained well below levels seen at the peak in September 2005.

Single family housing starts declined a notable 9.2% from February to 764K units (SAAR) but rose 22.6% above the level seen a year earlier but still remained well below the levels seen at the peak in September 2005.

New Residential Construction Report: May 2015

Today’s New Residential Construction Report showed mixed results with total permit activity increasing 11.8% since April while total starts declined 11.1% over the same period.

Single family housing permits, the most leading of indicators, increased 2.6% from April to 683K single family units (SAAR), and rose 9.1% above the level seen a year earlier but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: April 2015

Yesterday’s New Residential Construction Report showed notably improving results with total permit activity increasing 10.1% since March while total starts increased a whopping 20.2% over the same period.

Single family housing permits, the most leading of indicators, increased 3.7% from March to 666K single family units (SAAR), and rose 7.1% above the level seen a year earlier but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: January 2015

Today’s New Residential Construction Report showed worsening results with total and single family permit activity declining since December while total starts also declined 2.0% over the same period.

Single family housing permits, the most leading of indicators, declined 3.1% from December to 654K single family units (SAAR), and rose 5.8% above the level seen in January 2014 but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: December 2014

Today’s New Residential Construction Report showed mixed results with total permit activity declining 1.9% since November while total starts increased 4.4% over the same period.

Single family housing permits, the most leading of indicators, increased 4.5% from November to 667K single family units (SAAR), and rose 8.1% below the level seen in December 2013 and still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: October 2014

Today’s New Residential Construction Report showed mixed results with total permit activity improving while total start activity declined since September.

Single family housing permits, the most leading of indicators, increased 1.4% from September to 640K single family units (SAAR), and increased 2.4% above the level seen in October 2013 but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: January 2014

Today’s New Residential Construction Report showed a notable declines to both total permit activity and total start activity with starts dropping a whopping 16% from December.

Single family housing permits, the most leading of indicators, declined 1.3% from December to 602K single family units (SAAR), and  increased 2.4% above the level seen in January 2013 but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: December 2013

Today’s New Residential Construction Report showed a notable declines to both total permit activity and total start activity with starts dropping 9.8% from November.

Single family housing permits, the most leading of indicators, declined 4.8% from November to 610K single family units (SAAR), and  increased 4.5% above the level seen in December 2012 but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: November 2013

Today’s New Residential Construction Report showed a decline to total permit activity while indicating notable improvement in start activity with starts jumping 22.7% from October.

Single family housing permits, the most leading of indicators, increased 2.1% from October to 634K single family units (SAAR), and  increased 10.5% above the level seen in November 2012 but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: October 2013

Today’s New Residential Construction Report while including only limited data as a result of the recent government shutdown, showed notable improvement in permit activity in October increasing 6.2% from September.

Single family housing permits, the most leading of indicators, increased 0.8% from September to 620K single family units (SAAR), and  increased 8.8% above the level seen in October 2012 but still remained well below levels seen at the peak in September 2005.

New Residential Construction Report: January 2013

Today’s New Residential Construction Report showed mixed results for January with increases for single family permits and starts but a notable 8.5% monthly decline for total starts.

Single family housing permits, the most leading of indicators, rose 1.9% from December to 584K single family units (SAAR), and increased 29.2% above the level seen in January 2012 but still remained an astonishing 67.52% below the peak in September 2005.

Single family housing starts increased 0.8% from December to 613K units (SAAR), and rose 20.0% above the level seen in January 2012 but still remained 66.37% below the peak set in early 2006.

New Residential Construction Report: November 2012

Today’s New Residential Construction Report showed mixed results for November with a slight slip in single family permits and significant declines to total and single family starts but with gains to total permits.

Single family housing permits, the most leading of indicators, dropped 0.2% from October to 565K single family units (SAAR), and increased 25.3% above the level seen in November 2011 but still remained an astonishing 68.58% below the peak in September 2005.

Single family housing starts declined a whopping 4.1% from October to 565K units (SAAR), but rose 22.8% above the level seen in November 2011 but still remained 69.01% below the peak set in early 2006.

New Residential Construction Report: October 2012

Today’s New Residential Construction Report showed mixed results for October with monthly gains in single family permits but losses to total permits while total starts increased as single family starts declined over the same period.

Single family housing permits, the most leading of indicators, rose 2.2% from September to 562K single family units (SAAR), and increased 26.2% above the level seen in October 2011 but still remained an astonishing 68.74% below the peak in September 2005.

Single family housing starts declined 0.2% from September to 594K units (SAAR), and climbed 35.3% above the level seen in October 2011 but still remained 67.4% below the peak set in early 2006.

New Residential Construction Report: September 2012

Today’s New Residential Construction Report showed notable gains in September with single family permits increasing significantly from August while starts also increased over the same period.

Single family housing permits, the most leading of indicators, jumped 6.7% from August to 545K single family units (SAAR), and increased 27.3% above the level seen in September 2011 but still remained an astonishing 69.7% below the peak in September 2005.

Single family housing starts increased 11% from August to 603K units (SAAR), and climbed 42.9% above the level seen in September 2011 but still remained 66.9% below the peak set in early 2006.

New Residential Construction Report: August 2012

Today’s New Residential Construction Report showed gains in August with single family permits increasing from July while starts also increased over the same period.

Single family housing permits, the most leading of indicators, increased a slight 0.2% from July to 512K single family units (SAAR), and increased 19.3% above the level seen in August 2011 but still remained  an astonishing 71.52% below the peak in September 2005.

Single family housing starts increased 5.5% from July to 535K units (SAAR), and climbed 26.8% above the level seen in August 2011 and remained a stunning 70.65% below the peak set in early 2006.

New Residential Construction Report: March 2012

Today’s New Residential Construction Report showed weak results in March with single family permits declining from February while starts also declined over the same period.

Single family housing permits, the most leading of indicators, declined a notable 3.5% from February to 462K single family units (SAAR), but increased 17.6% above the level seen in March 2011 but still remained  an astonishing 74.30% below the peak in September 2005.

Single family housing starts fell 0.2% from February to 462K units (SAAR), but climbed 10.53% above the level seen in March 2011 and remained a stunning 74.66% below the peak set in early 2006.

With the substantial headwinds of elevated unemployment, epic levels of foreclosure and delinquency, mounting bankruptcies, contracting consumer credit, and falling real wages, an overhang of inventory and still falling home prices, the environment for “organic” home sales remains weak and likely very fragile.

New Residential Construction Report: January 2012

Today’s New Residential Construction Report showed mixed results in January with single family permits increased from November while starts declined over the same period.

Single family housing permits, the most leading of indicators, increased 0.9% from last month to 445K single family units (SAAR), and increased 6.2% above the level seen in January 2011 but remaining an astonishing 75.25% below the peak in September 2005.

Single family housing starts declined 1.0% to 508K units (SAAR), and climbed 16.2% above the level seen in January 2011 but remaining a stunning 72.13% below the peak set in early 2006.

With the substantial headwinds of elevated unemployment, epic levels of foreclosure and delinquency, mounting bankruptcies, contracting consumer credit, and falling real wages, an overhang of inventory and still falling home prices, the environment for “organic” home sales remains weak and likely very fragile.

New Residential Construction Report: November 2011

Today’s New Residential Construction Report showed that in November, both single family permits and starts increased from October with both measures continuing to show tepid results when compared on a year-over-year basis.

While the traditional business media jumped on this report as an indicator that housing is on the mend, closer inspection shows that the majority of the "strength" was in multi-unit structures, particularly structures with five or more units while single family activity remains historically subdued.

Single family housing permits, the most leading of indicators, increased 1.64% from last month to 435K single family units (SAAR), increasing 3.57% above the level seen in November 2010 but remaining an astonishing 75.81% below the peak in September 2005.

Single family housing starts increased 2.29% to 447K units (SAAR), but dropped 1.54% below the level seen in November 2010 and a stunning 75.48% below the peak set in early 2006.

With the substantial headwinds of elevated unemployment, epic levels of foreclosure and delinquency, mounting bankruptcies, contracting consumer credit, and falling real wages, an overhang of inventory and still falling home prices, the environment for “organic” home sales remains weak and likely very fragile.