Single Family Starts Up 22% Year-over-year in March; Multi-Family Starts Down Sharply

Today, in the Calculated Risk Real Estate Newsletter: Single Family Starts Up 22% Year-over-year in March; Multi-Family Starts Down Sharply

A brief excerpt:

Total housing starts in March were well below expectations, however, starts in January and February were revised up.

The third graph shows the month-to-month comparison for total starts between 2023 (blue) and 2024 (red).

Total starts were down 4.3% in March compared to March 2023. 

Starts were down year-over-year (YoY) in March following 4 consecutive months with starts up YoY. The YoY decline is due to the sharp decrease in multi-family starts.