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  • Alex Pettee, CFA

Housing Starts Bounce Back in November



housing starts november 2018

Housing starts bounce back in November, led by a jump in multifamily building. The trailing twelve month growth rate for total housing starts, however, slowed to 4.4% from 5.4% last month. Multifamily starts jumped to 5.2% on a TTM basis, a sharp recovery after dipping as much as 10% on a TTM basis as recently as February.


housing permits november 2018

Permit data has yet to confirm the recent recovery in multifamily building activity as multifamily starts remain lower on a TTM basis by 2.3%. Single Famiy starts continue to moderate to the weakest level since 2015.



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