Last Major Data of the Week: US Housing Starts fall to 1.14M (slowest pace since May 2017)

April 19, 2019 ‐ The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly
announced the following new residential construction statistics for March 2019:

Building Permits
Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of
1,269,000. This is 1.7 percent (±1.4 percent) below the revised February rate of 1,291,000 and is 7.8 percent (±1.9
percent) below the March 2018 rate of 1,377,000. Single‐family authorizations in March were at a rate of 808,000;
this is 1.1 percent (±1.5 percent)* below the revised February figure of 817,000. Authorizations of units in buildings
with five units or more were at a rate of 425,000 in March.
Housing Starts
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,139,000. This is 0.3 percent
(±14.6 percent)* below the revised February estimate of 1,142,000 and is 14.2 percent (±8.8 percent) below the
March 2018 rate of 1,327,000. Single‐family housing starts in March were at a rate of 785,000; this is 0.4 percent
(±15.2 percent)* below the revised February figure of 788,000. The March rate for units in buildings with five units
or more was 337,000.
Housing Completions
Privately‐owned housing completions in March were at a seasonally adjusted annual rate of 1,313,000. This is 1.9
percent (±19.5 percent)* below the revised February estimate of 1,338,000, but is 6.8 percent (±15.8 percent)*
above 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 percent (±14.2 percent)* above the revised February rate of 838,000. The March rate for units in buildings
with five units or more was 364,000.

Census Bureau

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Ed Moya

Ed Moya

Senior Market Analyst at OANDA
With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏
Ed Moya