Better Than Expected U.S. Housing Data – A Look At The Historical Figures
October 18, 2012 2:00 am in U.S.
The Housing data from U.S. came as much better than the expectation and raises optimism for the housing sector and hence overall employment situation.
U.S. Housing Starts
The Housing Starts reached to it’s 4-year high level. The September data the start of new housing construction as 0.872 Million i.e. over 15% jump from the August figure of 0.758 Million. The consensus was for 0.770 Millions housing projects to start in September.
Historical Data for U.S. Housing Starts for Past 5 Years:
Historical Data for U.S. Housing Starts for Past 10 Years:
The above graphs shows the historical data of new housing construction projects in the U.S. for past 5 years and past 10 years respectively.
January 2006 had seen a peak of new housing projects with the number as 2.273 Million and the subsequent months and years have been showing a continuous decline. During April 2009 the figure had reached the lowest level of these 10 years with only 478K new housing projects.
New Building Permits:
The new data showed a similar rise in the new building permits for future construction projects. This data is more important as this indicates that the growth in the construction is expected to continue during the coming months. The permits issued for new buildings in September were 0.894 K which were 11.33% higher than the August figure of 0.803 Million.
The data for past 10 years shows that the highest level of new building permits during past 10 years was in September 2005 when the permits issued for new building was 2.263 Million. There was a steady decline after that till the lowest level of these 10 years in March 2008 when the new building permits were only 513K.
Let’s have a look on the population growth of the U.S. as when we take growth in housing construction we need to have an eye on the population growth also.
Historical Population Growth in The U.S.A
Historical U.S. Population Growth Rate Graph
Historical U.S. Population Growth Rate Table
|Population Growth Rate||0.91%||0.90%||0.89%||0.92%||0.92%||0.92%||0.91%||0.89%||0.88%||0.98%||0.97%||0.96%||0.90%|
The growth in population in 2012 can not be taken on the face value as shown in this graph because we have approximately two and half more month in this year.
The next level of analysis would be with the rate of change in the housing construction versus the rate of the population growth.