Graph of the Week 4/23/2012: Housing Starts
There were a number of housing-related indicators released last week, on of them being Housing Starts. This graph shows the time series for Housing Starts: Total: New Privately Owned Housing Units Started, monthly, at a seasonally adjusted Annual Rate.
Homebuilders had a nice fifteen year run from 1991 to 2005. The series turned up in January, 1991 from a low of 798,000 annual starts a year, until it peaked in January 2006 at 2,273,000 annual starts. At that point the time series started to behave, in technical terms, like Wile E. Coyote going off a cliff in one of the Roadrunner cartoons. The bottom was reached in April, 2009 at a lowpoint of 478,000 annual starts, and since then has bounced around mostly in the 500,000 to 700,000 range.
The best way of summing this up may be in with the following music video
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