Charts of the Week

U.S. Housing Starts

Chart of the Week for February 21, 2020 - February 27, 2020

U.S. Housing Starts have been above average in recent months.

The U.S. Census Bureau publishes a monthly measure of New Residential Construction, commonly known as Housing Starts. The Census Bureau surveys local permit issuing authorities as well as homebuilders to gather their data. The chart above shows Housing Starts from January 2019 through January 2020.

U.S. Housing Starts totaled 1.57 million units in January 2020 following the December 2019 14-year high of 1.63 million units. The January 2020 results were above both the consensus estimate and the one-year average, and were a 21.4% increase year-over-year. Economists noted that low mortgage rates and unseasonably warm winter weather had a positive impact on Housing Starts. They also note that while starts may moderate over this year, they may come in stronger than forecast.

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