Housing starts fell most in eight months in February

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Single-family housing starts fell 0.4% in February to a 785,000-unit pace, while multifamily starts were unchanged at a 354,000-unit pace. Permits fell for both but remain well above starts.

Housing starts fell 8.7% in the month of February, according to the latest report from the U.S. Dept. of Housing and Urban Development and the U.S. Dept. of Commerce.

WASHINGTON (Reuters) – U.S. homebuilding fell in January as the construction of multi-family housing. months. But single-family starts in the South rose to their highest level since August 2007..

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New-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage rates. Residential starts fell 8.7% to a 1.16 million annualized rate, below estimates, after an upwardly revised gain the prior month, according to government [.]

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The drop in housing starts was the biggest in eight months and single-family starts were the lowest they’ve been in two years, according to Tendayi Kapfidze, LendingTree’s chief economist.

Demand for housing from residents remains strong and has resulted in the pace of new home construction so far in 2018 moving ahead of the level recorded during the first eight months of 2017. Kelowna. Despite a very strong August for housing starts in the Kelowna CMA, the first 8 months of 2018 have seen a decrease of 29% in the single-detached.

Housing starts fell 0.3 percent to a seasonally adjusted annual rate of 1.139 million units last month, the lowest level since May 2017. Data for February was revised down to show homebuilding.

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Consumer Price Index-May 2019 – also fell, decreasing 0.8 percent in May. The energy index decreased 0.5 percent over the past 12 months, with all of its major component indexes declining. The gasoline index decreased 0.2 percent over the past year. The index for natural gas declined 2.6 percent and the index for electricity fell 0.2 percent over the 12-month period.

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Housing starts fell 6.8% to a seasonally. starts from prior months were only revised up by a net 5,000. Single-family starts declined 6.2% in March to an annual 821,000 pace, but that was after.