Japan Housing Construction
January Housing Starts Edge Slightly Lower
Japan’s housing market moved slightly lower in January. Total housing starts fell 1.1% to 65,984 units. Total wooden housing finished at 35,117 units, a 1.7% decline. Condominiums fell 2.6% to 10,167 units. As a percentage of all starts, wooden units represented 53.2%.
Total 2×4 housing starts finished at 7,438 units: off 4.5 % from year prior levels. Custom built owner occupied homes increased 1.3% to 2,104 and speculative homes were generally unchanged at 1,150 units. Rental housing fell 8.5% to 4169 units. In contrast, post and beam starts finished at 26,448 units or down 1.2% and total pre-fab units increased 3.8%.