In March, U.S. housing starts experienced a significant decline, falling 14.7% month-over-month to 1.321 million units, markedly below the forecast of 1.485 million. This drop represents the lowest level since August 2023. Similarly, building permits decreased to 1.458 million, also underperforming against expectations of 1.510 million and showing a 4.3% monthly decline. The downturn was noted across all regions except the West, with single-family starts down 12.4% to 1.022 million units, although they did increase by 21% year-over-year. Multi-family starts saw a more drastic reduction, plummeting 22% month-over-month to 299,000 units, reaching a low not seen since August 2017.
🇺🇸Ouch! #Housing starts plunge 14.7% to 1.32mn in March: ⚠️Near low since Aug '23 ⛔️All regions ex West⏬ ⛔️-4.2% y/y 🏠Single-family consolidating ⛔️ -12.4% m/m to 1022k ✅+21% y/y 🏙️Multi-fam plunging ⛔️-22% m/m to 299k ⛔️-44% y/y 🚨Low since Covid/Aug '17 https://t.co/x3HDo4SJ5M
U.S. housing starts plummeted in March https://t.co/LLtPjoawma
⚠️BREAKING: *U.S. MARCH HOUSING STARTS TUMBLE -14.7% TO 1.321M; EST. 1.480M; PREV. 1.549M *LOWEST SINCE AUGUST 2023 🇺🇸🇺🇸 https://t.co/NlBwubA8qC
🇺🇸 *US MARCH BUILDING PERMITS 1.458M; EST. 1.510M - BBG *US MARCH BUILDING PERMITS FALL 4.3% M/M; EST. -0.9% *US MARCH HOUSING STARTS 1.321M; EST. 1.485M *US MARCH HOUSING STARTS FALL 14.7% M/M; EST. -2.4%
🇺🇸 Building Permits Prel (Mar) Actual: 1.458M Expected: 1.514M Previous: 1.523M https://t.co/zyULjZtrEp
🔴 US HOUSING STARTS NUMBER ACTUAL 1.321M (FORECAST 1.485M, PREVIOUS 1.521M) $MACRO
CANADA HOUSING STARTS (MAR) ACTUAL: 242.2K VS 253.5K PREVIOUS; EST 243.5K @MtlExchange
🔴 CANADIAN HOUSE STARTS, ANNUALIZED ACTUAL 242.195K (FORECAST 243.51K, PREVIOUS 253.5K) $MACRO
Heads Up:🇺🇸 Building Permits Prel (Mar) due at 12:30 GMT (15min) Previous: 1.524M https://t.co/zyULjZtrEp
Heads Up:🇺🇸 Building Permits MoM Prel (Mar) due at 12:30 GMT (15min) Previous: 2.4% https://t.co/zyULjZtrEp
Heads Up:🇺🇸 Business Inventories MoM (Feb) due at 14:00 GMT (15min) Previous: 0% https://t.co/ON2sKz6CKz