Japan JPY

Japan Housing Starts YoY

Info

History

Chart

Impact:

Medium

Source: Ministry of Land, Infrastructure, Transport and Tourism, Japan

Latest Release:

Date:

Big Surprise:

-8.3%

JPY

Actual:

-26.6%

Forecast: -18.3%

Previous/Revision:

39.1%

Period: Apr

Next Release:

Date:

Period: May

What Does It Measure?

Japan's Housing Starts YoY measures the annual percentage change in the number of new residential construction projects that have begun in Japan. This indicator primarily focuses on the construction sector's health, employment influence, and the overall housing market dynamics.

Frequency

The Housing Starts YoY report is released monthly, typically around the 1st business day of the month, and is considered a final measure reflecting accurately completed assessments of housing construction.

Why Do Traders Care?

Traders pay close attention to Housing Starts YoY as it serves as a leading indicator of economic activity, influencing various financial markets, including real estate, equities, and currencies such as the yen. Stronger-than-expected figures often signal growth in the economy, leading to bullish sentiments in both currency and stock markets.

What Is It Derived From?

This indicator is derived from data collected from building permits and housing construction companies across Japan. The number of housing starts is reported by Japanese government agencies through surveys which track completed construction projects, focusing on both single-family homes and multi-family units.

Description

Preliminary reports of Housing Starts YoY are based on early estimates and may be revised later, while final reports provide a more accurate picture, albeit at a delayed release. The year-over-year comparison is employed exclusively to eliminate seasonal variations, allowing for a clearer understanding of trends and structural changes in the housing market over time.

Additional Notes

Housing Starts YoY is often viewed as a leading economic measure, suggesting future spending trends in the construction sector and its correlation with consumer confidence. Its performance is compared with other indicators, such as building permits and employment rates, providing insights into the overall economic landscape in Japan and beyond.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for Japanese Yen, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
May 30, 2025	-26.6%	-18.3%	39.1%	-8.3%
Apr 30, 2025	39.1%	1%	2.4%	38.1%
Mar 31, 2025	2.4%	-1.4%	-4.6%	3.8%
Feb 28, 2025	-4.6%	-2.6%	-2.5%	-2%
Jan 31, 2025	-2.5%	-3.9%	-1.8%	1.4%
Dec 27, 2024	-1.8%	-0.1%	-2.9%	-1.7%
Nov 29, 2024	-2.9%	-2%	-0.6%	-0.9%
Oct 31, 2024	-0.6%	-4.1%	-5.1%	3.5%
Sep 30, 2024	-5.1%	-3%	-0.2%	-2.1%
Aug 30, 2024	-0.2%	-1%	-6.7%	0.8%
Jul 31, 2024	-6.7%	-2%	-5.2%	-4.7%
Jun 28, 2024	-5.3%	-6.1%	13.9%	0.8%
May 31, 2024	13.9%	-0.2%	-12.8%	14.1%
Apr 30, 2024	-12.8%	-7.6%	-8.2%	-5.2%
Mar 29, 2024	-8.2%	-5.5%	-7.5%	-2.7%
Feb 29, 2024	-7.5%	-7.7%	-4%	0.2%
Jan 31, 2024	-4%	-6.2%	-8.5%	2.2%
Dec 27, 2023	-8.5%	-4.3%	-6.3%	-4.2%
Nov 30, 2023	-6.3%	-6.8%	-6.8%	0.5%
Oct 31, 2023	-6.8%	-4.7%	-9.4%	-2.1%
Sep 29, 2023	-9.4%	-8.9%	-6.7%	-0.5%