Multifamily construction pushes housing starts

Multifamily construction pushes housing starts

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Rising construction. housing starts fell 0.9% in June 2019 to a seasonally adjusted annual rate of 1.253 million units..

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U.S. housing starts fell in June on fewer multifamily units. Permits, a proxy for future construction, dropped 6.1% to a 1.22 million rate, also.. of properties on the market pushed up house prices, likely sidelining some potential buyers.

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This drop was mainly due to a 22.2% decrease in total construction starts in the Midwest. Single-family housing production fell 6.7% to a seasonally adjusted annual rate of 678,000 in January,

Led by a drop in multifamily production, total housing starts fell 5.3 percent in September to a seasonally adjusted annual rate of 1.2 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.

The numbers: Construction on new houses fell slightly in June and permits posted an even sharper decline, suggesting the.

Multifamily construction starts at the U.S. level in 2017 dropped 12% to $84.9 billion, which followed a 10% increase in 2016 ($96.1 billion). Commercial building construction starts in 2017 slipped 3% to $109.8 billion, staying close to the 2016 level ($113.1 billion) achieved with a 22% hike that year.

Multifamily construction, which includes apartments, condos and. There may start to be more pressure on communities to build housing in the.

Multifamily Drop Pushes Total Housing Starts Down. A decline in multifamily starts pushed overall housing production down 7% in February to a seasonally adjusted annual rate of 1.24 million units, according to newly released data from HUD and the Commerce Department. Multifamily production fell 26.1% to a seasonally adjusted annual rate.

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A decline in multifamily starts pushed overall housing production down 7.0 percent in February to a seasonally adjusted annual rate of 1.24 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.

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