Drop in housing starts shows industry may weigh on growth

“Housing sales and starts suggest residential investment may also have stabilized after. yields following Powell’s testimony further weigh. Gold prices have found higher grounds following a drop in.

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Three straight months of declines in new-home construction show homebuilding may weigh on second-quarter growth, Commerce Department data showed Friday. Residential starts decreased 5.5% to a 1.09 million annualized rate (the estimate was 1.22 million), the weakest since September.

Housing is a huge chunk of the U.S. economy. Look to Kiplinger’s Economic Outlooks for forecasts on existing home sales, new home sales and housing starts. Housing Market: Housing Starts & Home Sales

Housing starts dropped 0.9% to a seasonally adjusted annual rate of 1.269 million units last month amid a drop in the construction of single-family housing units, the government said.

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Drop in U.S. Housing Starts Shows Industry May Weigh on Growth. Drop in U.S. Housing Starts Shows Industry May Weigh on Growth. Bloomberg the Company & Its Products The Quint. Bloomberg.

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We invited macro specialists, market generalists, and a couple sector experts who related the environment to their sector, to weigh. housing sector and a slowdown in durable goods consumption.

Labor and supply holding construction back. Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census Bureau. Privately owned housing starts decreased in June to a seasonally adjusted annual rate of 1.17 million, down 12.3% from May’s 1.34 million.

There were about 107,000 housing starts in October – approximately 2,000 units less than October 2017, which pushed the growth rate for the year down to 5.7 percent. This is a little less than forecasted by National Association for Business Economics (NABE) and a little more than the 4.5 percent predicted by National Association of Home Builders.

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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.

Our model shows that housing starts are likely to dip in 2019 before gradually recovering until 2022. Starts are then projected to hold relatively steady until 2025 (see figure 5). The initial drop in starts is primarily because existing vacant housing units are likely to cater to some part of demand for housing (arising due to population growth).