Home >> Daily Dose >> Single-Family Starts A Mixed Bag in 2018
Print This Post Print This Post

Single-Family Starts A Mixed Bag in 2018

According to data from the Survey of Construction, the National Association of Home Builders says single-family starts in 2018 were 4% higher than the units started in 2017, coming in at 881,076.  

That figure is double the amount that started in 2011, but still 49% less than the 1.7 million starts in 2007.

Of all Census divisions, new single-family unit starts exceeded 100,000 in 2018 in the South Atlantic, West South Central, and Mountain Divisions. The three divisions represent 21 states and accounted for nearly 62% of all new single-family starts last year. 

The Pacific Division saw 98,760 new single-family starts while the East North Central Division reported 78,858 units were started. Eleven percent of all single-family housing starts can be attributed to the Pacific Division. The divisions of East South Central, West North Central, Middle Atlantic, and England account for 18% of new single-family housing starts.

Data also found that each division grew at a different paces, as four of the nine divisions grew faster than the national average. The New England and Mountain Division led the way with 13% increases, followed by the West South Central Division with an 8% increase, and the South Atlantic Division with a 4% increase. 

The other five divisions reported growth slowed when compared to the national average. The West North Central Division reported a 14% decline in single-family starts, and was followed by East South Central 9% decline. 

No growth was reported in the Middle Atlantic Division, while the East North Central Division grew at just 2% and Pacific Division rose by 3%. 

A report by Zillow last month found that the construction of new single-family homes has yet to recover to normal following the Great Recession, which also expects construction shortages to continue until 2022.

Zillow states that single-family housing starts have averaged more than 1 million units a month, and reached its peak of more than 1.8 million in 2006 before falling during the Great Recession. 

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
x

Check Also

Sprout Mortgage Names CCO

Sprout Mortgage has announced that Gregory Walker has joined the company as Chief Compliance Officer and General Counsel, reporting directly to Michael Strauss, President.

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.