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.
|Housing Starts – SAAR||1.162 M||1.230 M||1.168 M to 1.300 M||1.139 M|
|Building Permits – SAAR||1.296 M||1.300 M||1.287 M to 1.320 M||1.269 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