Calculated Risk: Quarterly Starts by Purpose and Design: “Built for rent” Increasing
by Calculated Risk on 5/22/2022 11:48:00 AM
Along with the monthly housing starts for April last week, the Census Bureau released Housing Units Started by Purpose and Design through Q1 2022.
This graph shows the NSA quarterly intent for four start categories since 1975: single family built for sale, owner built (includes contractor built for owner), starts built for rent, and condos built for sale.
Click on graph for larger image.
Single family starts built for sale (red) were down 2% in Q1 2022 compared to Q1 2021.
Owner built starts (orange) were up 28% year-over-year.
Condos built for sale increased and are still low.
The ‘units built for rent’ (blue) and were up 19% in Q1 2022 compared to Q1 2021.
The recent housing boom had been mostly in single family homes ‘built for sale’, but ‘built for rent’ has picked up.