NAHB Index Shows Housing Market Stabilizing After Record Dump

#23740
TradersCom
Keymaster

US April housing starts 891K v +900K expected Prior 1216K (revised to 1276K)
Housing starts were down 30.2% in the month

Housing starts in the US plunged 30.2% month-over-month to an annualized rate of 0.891 million in April of 2020, below market forecasts of 0.927 million. It is the lowest reading since February of 2015 due to the coronavirus pandemic.

Starts for multi-family segment slumped 40.3% to 0.234 million
Starts for single-family housing which is the largest share of the housing market, went down 25.4% to 0.65 million.

Declines in housing starts were seen in all regions:
the South (-26% to 0.532 million),
the West (-43.4% to 0.184 million),
the Midwest (-14.9% to 0.131 million) and
the Northeast (-42.6% to 0.044 million).

Year-on-year, housing starts sank 29.7%. Figures for March were revised upwards to 1.276 million from 1.216 million.