Housing Starts Fall But Don't Collapse

Jan. 13, 2005
By John S. McClenahen Although they were down 2.1% in April from March's revised rate of 2.011 million, starts of privately owned housing are far from collapsing. For example, April's seasonally adjusted annual rate of 1.969 million, reported by the ...
ByJohn S. McClenahen Although they were down 2.1% in April from March's revised rate of 2.011 million, starts of privately owned housing are far from collapsing. For example, April's seasonally adjusted annual rate of 1.969 million, reported by the U.S. Commerce Department on May 18, was an impressive 20.3% above the April 2003 rate of 1.637 million. What's more, last's month's decreases were concentrated in starts for multifamily dwellings. They slid to a 315,000 rate, down 12.5% from March's figure. Starts for single-family housing slipped only 0.6% in April to an annual rate of 1.61 million. Looking ahead, UBS Investment Research foresees a slow decline in the rate of housing starts. "The recent bounce in mortgage rates will likely take a toll on housing as 2004 unfolds; however, stronger wage and job growth should temper the decline," says UBS.

Popular Sponsored Recommendations

What Does Agility Look Like for Today's Auto Industry?

Dec. 4, 2023
Without modern technologies, enterprises aren't able to fully analyze the risks and respond to ongoing supply chain issues and semiconductor shortages.

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Electric Vehicles Spark New Opportunities in the Automotive Industry

Dec. 4, 2023
Automakers have increased plans to produce Electric Vehicles to meet customer demand for low emissions. With this radical shift, new opportunities and challenges for the auto ...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!