A brief excerpt:
Total housing starts in November were below expectations, however, starts in September and October were revised up slightly, combined.There is much more in the article.
The third graph shows the month-to-month comparison for total starts between 2023 (blue) and 2024 (red).
Total starts were down 14.6% in November compared to November 2023. The YoY decrease in November total starts was a combination of further weakness in multi-family starts and a difficult comparison to starts in November 2023.
Single family starts have been up year-over-year in 13 of the last 17 months, whereas multi-family has been up year-over-year in only 2 of last 18 months. Year-to-date (YTD), total starts are down 4.3% compared to the same period in 2023. Single family starts are up 7.2% YTD, and multi-family down 30.1% YTD.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.