Over the coming week, Principia will be publishing a series of infographics highlighting different macroeconomic indicators from 2020 relevant to the construction industry. Part 1 discussed retail sales at building material and garden equipment stores in the United States. Part 2 highlighted residential building put-in-place spending for 2020.
Part 3 features data about housing starts in 2020 compared to housing starts in 2019.
Nearly one million new single family homes were started in 2020, compared to 887,700 homes started in 2019. Residential single family permits grew slightly faster than multifamily between 2017 and 2020. Permits are projected to grow 2% annually to 2023, with single family projected to grow faster than multifamily.
The next infographic in the series will focus on existing home sales.
Principia conducts a wide range of secondary research including macroeconomic data, such as home sales, put-in-place spending, and new residential construction starts. Principia updates macroeconomic data regularly and publishes the data for subscribers in an online, interactive dashboard format. Contact us today to learn more.