Housing Starts Decline in March

Total housing starts fell 0.3 percent in March to a seasonally adjusted annual rate of 1.14 million units from a downwardly revised reading in February, according to a report from the U.S. Housing and Urban Development and Commerce Department that was delayed due to the partial government shutdown.

The March reading of 1.14 million is the number of housing units builders would begin construction if they kept this pace for the next 12 months. Within this overall number, single-family starts fell 0.4 percent to 785,000 units. The multifamily sector, which includes apartment buildings and condos, remained flat at 354,000.

“Despite signs of stabilization of confidence in the marketplace, housing affordability continues to be a concern as housing construction weakens into March,” said Greg Ugalde, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Torrington, Conn. 

“Data in the early months of 2019 show single-family starts are off 5 percent from this time in 2018, with notable weakness in the Midwest and West,” said NAHB Chief Economist Robert Dietz. “Several factors are negatively affecting the housing market, including excessive regulations, a lack of buildable lots and ongoing labor shortages. Recent declines in mortgage rates should help support the market in future months however.”

Regionally, combined single-family and multifamily starts year to date declined 14.2 percent in the Northeast, 10.9 percent in the Midwest and 27.1 percent in the West. Starts posted a 1.5 percent increase in the South.

Overall permits, which are often a harbinger of future housing production, edged 1.7 percent lower in March to 1.27 million units. Single-family permits fell 1.1 percent to an annualized pace of 808,000, while multifamily permits dropped 2.7 percent to an annual rate of 461,000.

Looking at regional permit data on a year to date basis, permits are down 3.7 percent in the Midwest, 0.4 percent in the South and 16.9 percent in in the West. The Northeast remained unchanged.

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Global Consultant Outlines Trends Shaping Sustainable Business in 2019

Sunil “Sunny” Misser, CEO of global consulting firm AccountAbility, recently joined Nareit for a video interview to discuss the trends that will shape the landscape of sustainable business in 2019.

Misser highlighted collaboration on climate action as one of the key trends to watch. “Industries are going to have multiple types of collaborative linkages and they’re going to see a big spurt toward climate action,” he said.

Other trends Misser noted include:

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HIVE Launches the RE:think Podcast Series to Explore How Housing Innovation is Changing Design, Engineering and Construction

HIVE Launches the RE:think Podcast Series to Explore How Housing Innovation is Changing Design, Engineering and Construction

 

WASHINGTON/ APRIL 18, 2019 (STL.News)

Hanley Wood, the premier information, media, event, and strategic marketing services company serving the residential, design, and commercial construction industries, announced today the launch of HIVE’s RE:think podcast series that will explore innovations in housing and address critical topics such as climate disruption, housing cyclical decline, regulation challenging development and attracting and retaining talent.

Hosted by Philip Beere, whose work has been featured on NPR, Bloomberg and Fox Business, the RE:think podcast series is the newest component of the HIVE platform—a community that transforms housing with conversations to inspire creativity, higher performance and better solutions in design, finance, demographics, business management and products.

Continue reading HIVE Launches the RE:think Podcast Series to Explore How Housing Innovation is Changing Design, Engineering and Construction at STL.News.

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