According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 268k in April (seasonally adjusted). Inventories are at the highest level since July 2009. April’s new home inventories were 27k (11.2%) above the prior-year level of 241k. New home inventories still remain somewhat low by historical standards, but are closing in on longer run average inventory levels (~340k).

The growth in inventories in the last year (seasonally adjusted) has been driven by homes not yet started (+16k), more so than by homes under construction (+10K) or homes completed (+1k).

New home inventories increased slowly during the first 9 months of 2016, from 237k in January to 242k in September, but then jumped to 256k by December, an increase of 19k from January. In 2015, inventories rose 27k; from 207k in January to 234k in December. Inventory levels increased 23k throughout 2014, peaking at 212k in December, and rose 38k in 2013, to 187k by December. The last year of flat inventories was 2012, when the absolute inventory of new homes remained within a consistent range of 142k – 150k.

Seasonally adjusted new home inventories increased to 5.7 months of supply in April, up from from 5.1 months a year ago. Sales of new single-family houses decreased to 569k (seasonally adjusted annual rate), down 11.4% from revised prior month sales and up 0.5% from prior year. Full-year 2016 sales of 561k were up 12.0% from 501k in 2015. Year-to-date 2017 sales are up 11.3%

Full year 2015 new home sales were up 14.6% over 2014. For the full year 2014, new home sales only grew by 1.9% to 437k units. The months of supply figure remained below 5 months between February 2012 and June 2013, but was 5.0 or more from that point through the end of 2014 with only one exception. In 2015, eight months were at 5.0 or greater months of supply, including each of the last 7 months of the year. In 2016, only one month (July) was less than 5.0. The average months of supply over the last 50 years is 6.1, so current new home inventory remain below “normal” levels. For the 9-year period of 1997 through 2005, the inventory level averaged 4.1 months with relatively little volatility, despite the dot-com boom and subsequent recession, and we are above that level today.  The vertical bars in the graphs represent recessions.

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Housing starts totaled 1.172 million in April (seasonally adjusted annual rate – SAAR) down 2.6% from prior month’s revised figures, but up 0.7% from April 2016 results, and were below expected levels. Single family starts totaled 835k (SAAR), down 0.4% from March and up 8.9% year-over-year. Starts of multi-unit (5+)structures were 328k (SAAR) down 9.6% from March and down 14.6% over prior year. Total starts exceeded a 1.0 million unit annual pace for the 25rd straight month. Year-to-date starts are up 5.3%

For the full year 2016, total starts were 1.174 million, up 5.6% over 2015. Single unit starts led the way with 9.4% growth, while multi-unit starts declined by 1.3%. In the prior couple of years single-unit starts grew more slowly than multi-unit starts. For the full year 2015, total starts were 1.112 million, up 10.8% over 2014. Single unit starts were up 10.3% in 2015, while 5+ unit starts were up 12.9%. For the full year 2014, there were 1.003 million total housing starts, up 8.8% from the 925 thousand starts during 2013. Single family starts were up 4.9% and multifamily starts were up 16.4%. Total 2013 housing starts were up a robust 18.5% from the 781k housing starts recorded in 2012 and in 2012 starts were up 28.2%.

Despite several years of strong growth, there remains a lot of ground to cover for the housing sector to fully recover from the recession. Housing starts are still well below the average of just over 1.5 million per year over the last 40+ years, and even farther below the 2.2 million peak of the most recent housing boom. Since 1968, the U.S. population has grown from 200 million to more than 320 million. Some economists believe that slower population growth and household formation in the U.S. means that housing starts will not recover to 1.5 million units for a long time.

Total starts reached a low point of 478k (SAAR) in April of 2009, while single unit starts bottomed out at 353k in March of 2009. A low housing starts figure not only impacts transportation demand for building products but also for appliances, furniture, and other related items, so continued improvement in the housing sector should lead to rising freight volumes. The ATA estimates that each housing start generates 8 truckloads of freight.

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Housing starts totaled 1.215 million in March (seasonally adjusted annual rate – SAAR) down 6.8% from prior month’s revised figures, but up 9.2% from March 2016 results, and were below expected levels. Single family starts totaled 821k (SAAR), down 6.2% from February and up 9.3% year-over-year. Starts of multi-unit (5+)structures were 385k (SAAR) down 6.1% from February but up 9.1% over prior year. Total starts exceeded a 1.0 million unit annual pace for the 24rd straight month. Year-to-date starts are up 8.1%

For the full year 2016, total starts were 1.174 million, up 5.6% over 2015. Single unit starts led the way with 9.4% growth, while multi-unit starts declined by 1.3%. In the prior couple of years single-unit starts grew more slowly than multi-unit starts. For the full year 2015, total starts were 1.112 million, up 10.8% over 2014. Single unit starts were up 10.3% in 2015, while 5+ unit starts were up 12.9%. For the full year 2014, there were 1.003 million total housing starts, up 8.8% from the 925 thousand starts during 2013. Single family starts were up 4.9% and multifamily starts were up 16.4%. Total 2013 housing starts were up a robust 18.5% from the 781k housing starts recorded in 2012 and in 2012 starts were up 28.2%.

There remains a lot of ground to cover for the housing sector to fully recover from the recession. Housing starts are still well below the average of just over 1.5 million per year over the last 40+ years, and even farther below the 2.2 million peak of the most recent housing boom. Since 1968, the U.S. population has grown from 200 million to more than 320 million. Some economists believe that slower population growth and household formation in the U.S. means that housing starts will not recover to 1.5 million units for a long time.

Total starts reached a low point of 478k (SAAR) in April of 2009, while single unit starts bottomed out at 353k in March of 2009. A low housing starts figure not only impacts transportation demand for building products but also for appliances, furniture, and other related items, so continued improvement in the housing sector should lead to rising freight volumes. The ATA estimates that each housing start generates 8 truckloads of freight.

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According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 268k in March (seasonally adjusted). Inventories are now at the highest level since July 2009. March’s new home inventories were 24k (9.8%) above the prior-year level of 244k. New home inventories still remain somewhat low by historical standards, but are closing in on longer run average inventory levels (~340k).

The growth in inventories in the last year (seasonally adjusted) has been driven by homes not yet started (+17k), more so than by homes under construction (+4K) or homes completed (+3k).

New home inventories increased slowly during the first 9 months of 2016, from 239k in January to 242k in September, but then jumped to 256k by December, an increase of 17k from January. In 2015, inventories rose 27k; from 208k in January to 235k in December. Inventory levels increased 23k throughout 2014, peaking at 212k in December, and rose 38k in 2013, to 187k by December. The last year of flat inventories was 2012, when the absolute inventory of new homes remained within a consistent range of 142k – 150k.

Seasonally adjusted new home inventories dropped to 5.2 months of supply in March, down slightly from from 5.5 months a year ago. Sales of new single-family houses increased to 621k (seasonally adjusted annual rate), up 5.8% from revised prior month sales and up 15.6% from prior year. Full-year 2016 sales of 561k were up 12.0% from 501k in 2015.

Full year 2015 new home sales were up 14.6% over 2014. For the full year 2014, new home sales only grew by 1.9% to 437k units. The months of supply figure remained below 5 months between February 2012 and June 2013, but was 5.0 or more from that point through the end of 2014 with only one exception. In 2015, eight months were at 5.0 or greater months of supply, including each of the last 7 months of the year. In 2016, only one month (July) was less than 5.0. The average months of supply over the last 50 years is 6.1, so current new home inventory remain below “normal” levels. For the 9-year period of 1997 through 2005, the inventory level averaged 4.1 months with relatively little volatility, despite the dot-com boom and subsequent recession, and we are above that level today.  The vertical bars in the graphs represent recessions.

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According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 266k in February (seasonally adjusted). Inventories are now at the highest level since July 2009. February’s new home inventories were 24k (9.9%) above the prior-year level of 242k. New home inventories still remain somewhat low by historical standards, but are closing in on longer run average inventory levels (~340k).

The growth in inventories in the last year (seasonally adjusted) has been driven by homes not yet started (+14k) and homes under construction (+7K), more so than by homes completed (+3k).

New home inventories increased slowly during the first 9 months of 2016, from 239k in January to 242k in September, but then jumped to 256k by December, an increase of 17k from January. In 2015, inventories rose 27k; from 208k in January to 235k in December. Inventory levels increased 23k throughout 2014, peaking at 212k in December, and rose 38k in 2013, to 187k by December. The last year of flat inventories was 2012, when the absolute inventory of new homes remained within a consistent range of 142k – 150k.

Seasonally adjusted new home inventories dropped to 5.4 months of supply in February, down slightly from from 5.5 months a year ago. Sales of new single-family houses increased to 592k (seasonally adjusted annual rate), up 6.1% from revised prior month sales and up 12.8% from prior year. Full-year 2016 sales of 560k were up 11.8% from 501k in 2015.

Full year 2015 new home sales were up 14.6% over 2014. For the full year 2014, new home sales only grew by 1.9% to 437k units. The months of supply figure remained below 5 months between February 2012 and June 2013, but was 5.0 or more from that point through the end of 2014 with only one exception. In 2015, eight months were at 5.0 or greater months of supply, including each of the last 7 months of the year. In 2016, only one month (July) was less than 5.0. The average months of supply over the last 50 years is 6.1, so current new home inventory remain slightly below “normal” levels. For the 9-year period of 1997 through 2005, the inventory level averaged 4.1 months with relatively little volatility, despite the dot-com boom and subsequent recession, and we are above that level today.  The vertical bars in the graphs represent recessions.

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Housing starts totaled 1.288 million in February (seasonally adjusted annual rate – SAAR) up 3.0% from prior month’s revised figures, and up 6.2% from February 2016 results, and were above expected levels. Single family starts totaled 872k (SAAR), up 6.5% from January and up 3.2% year-over-year. Starts of multi-unit (5+)structures were 396k (SAAR) down 7.7% from January but up 11.2% over prior year. Total starts exceeded a 1.0 million unit annual pace for the 23rd straight month, and February starts were higher than all but 1 month (October) in 2016.

For the full year 2016, total starts were 1.174 million, up 5.6% over 2015. Single unit starts led the way with 9.4% growth, while multi-unit starts declined by 1.3%. In the prior couple of years single-unit starts grew more slowly than multi-unit starts. For the full year 2015, total starts were 1.112 million, up 10.8% over 2014. Single unit starts were up 10.3% in 2015, while 5+ unit starts were up 12.9%. For the full year 2014, there were 1.003 million total housing starts, up 8.8% from the 925 thousand starts during 2013. Single family starts were up 4.9% and multifamily starts were up 16.4%. Total 2013 housing starts were up a robust 18.5% from the 781k housing starts recorded in 2012 and in 2012 starts were up 28.2%.

There remains a lot of ground to cover for the housing sector to fully recover from the recession. Housing starts are still well below the average of just over 1.5 million per year over the last 40+ years, and even farther below the 2.2 million peak of the most recent housing boom. Since 1968, the U.S. population has grown from 200 million to more than 320 million. Some economists believe that slower population growth and household formation in the U.S. means that housing starts will not recover to 1.5 million units for a long time.

Total starts reached a low point of 478k (SAAR) in April of 2009, while single unit starts bottomed out at 353k in March of 2009. A low housing starts figure not only impacts transportation demand for building products but also for appliances, furniture, and other related items, so continued improvement in the housing sector should lead to rising freight volumes. The ATA estimates that each housing start generates 8 truckloads of freight.

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According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 265k in January (seasonally adjusted). Inventories are now at the highest level since August 2009. December’s new home inventories were 26k (10.9%) above the prior-year level of 239k. New home inventories still remain somewhat low by historical standards, but are closing in on longer run average inventory levels.

The growth in inventories in the last year (seasonally adjusted) has been driven by homes not yet started (+13k) and homes under construction (+8K), more so than by homes completed (+5k).

New home inventories increased slowly during the first 9 months of 2016, from 239k in January to 242k in September, but then jumped to 256k by December, an increase of 17k from January. In 2015, inventories rose 27k, from 208k in January to 235k in December. Inventory levels increased 23k throughout 2014, peaking at 212k in December, and rose 38k in 2013 to 187k by December. The last year of flat inventories was 2012, when the absolute inventory of new homes remained within a consistent range of 142k – 150k.

Seasonally adjusted new home inventories held steady at 5.7 months of supply in January, up slightly from from 5.5 months a year ago. Sales of new single-family houses increased to 555k (seasonally adjusted annual rate), up 3.7% from revised prior month sales and up 5.5% from prior year. Full-year 2016 sales of 561k were up 12.0% from 501k in 2015.

Full year 2015 new home sales were up 14.6% over 2014. For the full year 2014, new home sales only grew by 1.9% to 437k units. The months of supply figure remained below 5 months between February 2012 and June 2013, but was 5.0 or more from that point through the end of 2014 with only one exception. In 2015, eight months were at 5.0 or greater months of supply, including each of the last 7 months of the year. In 2016, only one month (July) was less than 5.0. The average months of supply over the last 50 years is 6.1, so current new home inventory remain slightly below “normal” levels. For the 9-year period of 1997 through 2005, the inventory level averaged 4.1 months with relatively little volatility, despite the dot-com boom and subsequent recession, and we are above that level today.  The vertical bars in the graphs represent recessions.

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Housing starts totaled 1.246 million in January (seasonally adjusted annual rate – SAAR) down 2.6% from prior month’s revised figures, but up 10.5% from January 2016 results, and were above expected levels. Single family starts totaled 823k (SAAR), up 1.8% from December and up 6.2% year-over-year. Starts of multi-unit structures were 457k (SAAR) down 6.9% from December but up 25.7% over prior year. Total starts exceeded a 1.0 million unit annual pace for the 22th straight month, and January starts were higher than all but 2 months in 2016.

For the full year 2016, total starts were 1.174 million, up 5.6% over 2015. Single unit starts led the way with 9.4% growth, while multi-unit starts declined by 1.2%. In the prior couple of years single-unit starts grew more slowly than multi-unit starts. For the full year 2015, total starts were 1.112 million, up 10.8% over 2014. Single unit starts were up 10.3% in 2015, while 5+ unit starts were up 12.9%. For the full year 2014, there were 1.003 million total housing starts, up 8.8% from the 925 thousand starts during 2013. Single family starts were up 4.9% and multifamily starts were up 16.4%. Total 2013 housing starts were up a robust 18.5% from the 781k housing starts recorded in 2012 and in 2012 starts were up 28.2%.

There remains a lot of ground to cover for the housing sector to fully recover from the recession. Housing starts are still well below the average of just over 1.5 million per year over the last 40+ years, and even farther below the 2.2 million peak of the most recent housing boom. Since 1968, the U.S. population has grown from 200 million to more than 320 million. Some economists believe that slower population growth and household formation in the U.S. means that housing starts will not recover to 1.5 million units for a long time.

Total starts reached a low point of 478k (SAAR) in April of 2009, while single unit starts bottomed out at 353k in March of 2009. A low housing starts figure not only impacts transportation demand for building products but also for appliances, furniture, and other related items, so continued improvement in the housing sector should lead to rising freight volumes. The ATA estimates that each housing start generates 8 truckloads of freight.

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According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 259k in December (seasonally adjusted). Inventories are now at the highest level since August 2009. December’s new home inventories were 24k (10.2%) above the prior-year level of 235k. New home inventories still remain low by historical standards.

The growth in inventories in the last year (seasonally adjusted) has been driven by homes under construction (+10K) and homes not yet started (+9k), more so than by and homes completed (+5k).

New home inventories increased slowly during the first 9 months of 2016, from 239k in January to 242k in September, but then jumped in the fourth quarter. In 2015, inventories rose faster than in 2016, from 208k in January to 235k in December. Inventory levels increased 23k throughout 2014, peaking at 212k in December. Inventories rose from 149k at the beginning of 2013 to 187k by December, following a year of remarkable stability in 2012 where the absolute inventory of new homes remained within a consistent range of 142k – 150k.

Seasonally adjusted new home inventories rose to 5.8 months of supply in December, from 5.2 months a year ago and 5.0 months in November. Sales of new single-family houses fell to 536k (seasonally adjusted annual rate), down 10.4% from revised prior month sales and down 0.4% from prior year. Year-to-date absolute sales of 563k were up 12.2% from 501k in 2015.

Full year 2015 new home sales were up 14.6% over 2014. For the full year 2014, new home sales only grew by 1.9% to 437k units. The months of supply figure remained below 5 months between February 2012 and June 2013, but was 5.0 or more from that point through the end of 2014 with only one exception. In 2015, eight months were at 5.0 or greater months of supply, including each of the last 7 months of the year. In 2016, only one month (July) was less than 5.0. The average months of supply over the last 50 years is 6.1, so current new home inventory remain below “normal” levels. For the 9-year period of 1997 through 2005, the inventory level averaged 4.1 months with relatively little volatility, despite the dot-com boom and subsequent recession, and we are above that level today.  The vertical bars in the graphs represent recessions.

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According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family new home inventories increased to 250k in November (seasonally adjusted). Inventories had leveled off over the 12 months ending in October (low of 230k and high of 246k), but are now at the highest level since September 2009. November’s new home inventories were 20k (8.7%) above the prior-year level of 230k. New home inventories still remain low by historical standards.

The growth in inventories in the last year (seasonally adjusted) has been driven by homes under construction (+9K), more so than by homes not yet started (+5k) and homes completed  (+6k).

Inventory levels slowly increased throughout 2014, peaking at 212k in December. Inventories rose from 149k at the beginning of 2013 to 187k by December, following a year of remarkable stability in 2012 where the absolute inventory of new homes remained within a consistent range of 142k – 150k.

Seasonally adjusted new home inventories held relatively steady at 5.1 months of supply in November, from 5.4 months a year ago and 5.2 months in October. Sales of single-family houses rose to 592k (seasonally adjusted annual rate), up 5.2% from revised prior month sales and up 16.5% from prior year. Year-to-date absolute sales are up 12.7% at 522k.

Full year 2015 new home sales were up 14.6% to 501k. For the full year 2014, new home sales only grew by 1.9% to 437k units. The months of supply figure remained below 5 months between February 2012 and June 2013, but was 5.0 or more from that point through the end of 2014 with only one exception. In 2015, eight months were at 5.0 or greater months of supply, including each of the last 7 months. The average months of supply over the last 50 years is 6.1, so current new home inventory are well below “normal” levels. For the 9-year period of 1997 through 2005, the inventory level averaged 4.1 months with relatively little volatility, despite the dot-com boom and subsequent recession, and we are above that level today.  The vertical bars in the graphs represent recessions.

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