Housing starts plunge a record 30 percent
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Housing starts fell 30.2%, Permits 20.8%, and completions 8.1% due to Covid-19.
The Residential Construction Report stats record the the greatest month-over-month decline in the history of the stats. The housing data dates to 1959.
Starts vs Econoday Consensus
- Starts: 0.891 Million Seasonally Adjusted Annualized
- Consensus Starts: 0.968 Million
Permits vs Econoday Consensus
- Permits: 1.074 Million Seasonally Adjusted Annualized
- Consensus Permits: 1.033 Million
Housing Starts, Permits, Completions Month-Over-Month Comparisons
A data download from Fred shows the next biggest month-over-month declines were 26.4% in March of 1984, and 26.2% in March of 1960.
The Econoday consensus was
Housing Starts, Permits, Completions Year-Over-Year Comparisons
Year-Over-Year declines are not as large as in the Great Recession.
A data download from Fred shows the next biggest year-over-year declines were 54.8% in January of 2009, 52.8% in April of 2009, and 50.6% May of 1980. iand 26.2% in March of 1960.
Mish
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