2018 Economic Calendar
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Housing Starts  
Released On 5/16/2018 8:30:00 AM For Apr, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Starts - Level - SAAR1.319 M1.336 M1.324 M1.260 M to 1.350 M1.287 M
Permits - Level - SAAR1.354 M1.377 M1.350 M1.325 M to 1.370 M1.352 M

Despite headline declines, the housing starts and permits report for April is mostly positive. First the negatives: starts fell 3.7 percent in the month to a lower-than-expected 1.287 million annualized rate while permits fell 1.8 percent to an as-expected 1.352 million rate. The decline for both starts and permits reflects give back from multi-units which fell sharply in April after rising sharply in March.

Steady readings for single-family homes are the positives in today's data. Starts here posted a 0.1 percent increase to an 894,000 rate while single-family permits, which are the best news in the report, rose 0.9 percent to an 859,000 rate. But not all the single-family news is positive as completions fell 4.0 percent in the month to an 820,000 rate for a decline that is not welcome in a housing market starved of supply.

But behind all the volatility in the numbers is a housing sector that continues to climb at a solid rate, reflected in year-on-year change that shows total starts up 10.5 percent and permits up 7.7 percent.

Consensus Outlook
Slight step backs are the expectations for both housing starts and permits which, boosted by a turn higher for multi-unit activity, rose very sharply in March. April's consensus for starts is a 1.324 million annualized rate vs March's 1.319 million with permits seen at 1.350 vs 1.379 million (revised from an initial 1.354 million).

A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation for the building.  Why Investors Care
Monthly figures are often volatile housing starts fluctuate more than many indicators. It takes several months for total housing starts to establish a trend. Consequently, we have depicted total starts relative to a five month moving average.
Data Source: Haver Analytics

2018 Release Schedule
Released On: 1/182/163/164/175/166/197/188/169/1910/1711/2012/18
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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