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Tuesday, October 22, 2019
HomeNewsEconomyHousing Starts, Building Permits Miss Forecasts for March

Housing Starts, Building Permits Miss Forecasts for March

New residential construction, hew homes, housing starts, building permits, depicted on blueprints. (Photo: AdobeStock)
New residential construction, hew homes, housing starts, building permits, depicted on blueprints. (Photo: AdobeStock)
New residential construction, hew homes, housing starts, building permits, depicted on blueprints. (Photo: AdobeStock)

New residential construction in March 2019 was more moderate than expected. Housing starts came in a seasonally adjusted annual rate of 1,139,000 (-0.3%) and building permits came in at 1,269,000 (-1.7%), missing the forecasts.

The consensus forecast was looking for 1,230,000, ranging from a low of 1,168,000 to a high of 1,300,000.

PriorConsensusRangeActual
Housing Starts – SAAR1.162 M1.230 M1.168 M to 1.300 M1.139 M
Building Permits – SAAR1.296 M1.300 M1.287 M to 1.320 M1.269 M

Released On 4/19/2019 at 8:30 AM EST for March, 2019

Housing completions in March were at a seasonally adjusted annual rate of 1,313,000, or 1.9% (±19.5%)* below the revised February estimate of 1,338,000. However, that is 6.8% (±15.8%)* higher than the March 2018 rate of 1,229,000.

Single‐family housing completions in March were at a rate of 938,000; this is 11.9% (±14.2%)* above the revised February rate of 838,000. The March rate for units in buildings with five units or more was 364,000

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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