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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

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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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