The December 2011 Residential construction report showed Housing starts dropped -4.1% from November's revised 685,000, to a level of 657,000. This is +24.9% above December 2010, or 526,000 housing starts. Housing starts decline was due to apartments, 5 units or more of one building structure, which dropped -27.8% in one month.
The Census, part of the Commerce Department, today released the monthly construction spending report. This is a monthly tally of how much money was spent on construction and the survey has been done since 1960. The below graph shows just how badly construction spending imploded since 2008. Dollars are not adjusted for inflation, so the overall decline is even more dramatic.
The November 2011 Residential construction report showed Housing starts surged 9.3% from October's revised 627,000, to a level of 685 000. This is +24.3% above November 2010, or 551,000 housing starts. The surge was due to apartments, 5 units or more, of one building structure.
The October 2011 Residential construction report showed Housing starts decreased -0.3% from September, to a level of 628,000. This is +16.5% above October 2010, or 539,000 housing starts. New Residential Construction has a margin of error often above the monthly percentage increases, so take these monthly changes with a grain of salt.
The July 2011 Residential construction report showed Housing starts decreased -1.5% from June, to a level of 604,000. This is 9.8% above July 2010, or 550,000 housing starts. New Residential Construction has a margin of error often above the monthly percentage increases, so take these monthly changes with a grain of salt. July, for example, has a error margin of 10.8 percentage points.
The June 2011 Residential construction report showed Housing starts increased 14.6% from May to a level of 629,000. This is 16.7% above June 2010 and a 6 month high. New Residential Construction has a margin of error often above the monthly percentage increases, so take these monthly changes with a grain of salt. June, for example, has a error margin of 10.9 percentage points.
The May 2011 Residential construction report showed Housing starts increased 3.5% from April 2011 to a level of 560,000. This is -3.4% below May 2010. This economic metric has error rates much above the actual percentage change increases quoted. April had a -8.8% decline, revised upward from -10.6%.
The April 2011 Residential construction report showed Housing starts dropped -10.6% from March 2011 to a level of 523,000. This is -23 9% below April 2010. We're back to April 2009 levels and this monthly drop was the biggest since 1984. March had a +12.9% increase in housing starts from February 2011.
The February 2011 Residential construction report showed Housing starts dropped -22.5% from January 2011 to a level of 479,000. This is 20.8% below February 2010. We're back to April 2009 levels and this monthly drop was the biggest since 1984.
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