The July 2011 Residential construction report showed Housing starts decreased -1.5% from June, to a level of 604,000. This is 9.8% above July 2010, or 550,000 housing starts. New Residential Construction has a margin of error often above the monthly percentage increases, so take these monthly changes with a grain of salt. July, for example, has a error margin of 10.8 percentage points.
In June, New Residential Single Family Home Sales decreased -1.0% from May's -0.6% decrease. June's annual sale rate was 312,000 new homes and May was 315,000. This is a +1.6% increase from a year ago. In June 2010, new home sales were 307,000.
The June 2011 Residential construction report showed Housing starts increased 14.6% from May to a level of 629,000. This is 16.7% above June 2010 and a 6 month high. New Residential Construction has a margin of error often above the monthly percentage increases, so take these monthly changes with a grain of salt. June, for example, has a error margin of 10.9 percentage points.
Wondering why we have conflicting reports on the S&P Case-Shiller Housing Index? One financial press source is singing hallelujah while another is glum?
The May 2011 Residential construction report showed Housing starts increased 3.5% from April 2011 to a level of 560,000. This is -3.4% below May 2010. This economic metric has error rates much above the actual percentage change increases quoted. April had a -8.8% decline, revised upward from -10.6%.
In April, New Residential Single Family Home Sales increased 7.3% from March's 8.5% increase, or 301,000 homes, with a April annual sale rate of 323,000 new homes. This is a -23.1% drop from a year ago. In April 2010, new home sales were 420,000.
The April 2011 Residential construction report showed Housing starts dropped -10.6% from March 2011 to a level of 523,000. This is -23 9% below April 2010. We're back to April 2009 levels and this monthly drop was the biggest since 1984. March had a +12.9% increase in housing starts from February 2011.
In March, New Residential Single Family Home Sales increased 11.1% from February's -13.5% revised plunge, or 270,000 homes, with a March annual sale rate of 300,000 new homes. This is a -21.9% drop from a year ago. In March 2010, new home sales were 384,000.
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