Housing Starts Remain at One Million

The Lehmann Letter (SM)

On December 16 the Census Bureau reported 1.0 million November housing starts at a seasonally adjusted annual rate:

http://www.census.gov/construction/nrc/pdf/newresconst.pdf

Compare that with the chart and the monthly figures below the chart. Housing starts remain at one million. They need to be much higher before we can say this sector has recovered.

Housing Starts

5.7 Housing Starts 06-17-14

Recessions shaded

These figures are presented in thousands of homes started, so that 0.9 is shown in its raw form of 896 for 896,000:

2013

January        896

February       951

March           994

April              848

May              915

June             831

July              898

August          885

September    863

October        936

November     1,105

December     1,034

2014

January        897

February       928

March           950

April              1,063

May              984

June             909

July              1,098

August          963

September    1,028

October        1,045

November     1,028 (1.0 million)

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© 2014 Michael B. Lehmann