Housing starts down, permits up
Housing starts may be down but permits are up, according to the latest federal data released Nov. 18.
The new home market is down, but it’s not dead, with the latest numbers on construction showing signs of improvement.
Builders broke ground on fewer homes in October, but construction was sharply higher than a year ago, and one measure of future building activity rose, according to monthly data released in Washington by the Census Bureau and Department of Housing and Urban Development.
Housing starts were at a seasonally adjusted annual rate of 628,000, down 0.3 percent from September’s pace, but up 16.5 percent from October 2010. Single-family construction was up 3.9 percent from September.
Building permits, a gauge of future building plans, rose 10.9 percent from September, and the number of permits issued were up 17.7 percent from a year earlier.
Housing starts in the South, a region that includes Washington but stretches from Delaware to Florida, jumped 21.5 percent last month, the biggest regional gain in the nation.
The new home market is down, but it’s not dead, with the latest numbers on construction showing signs of improvement.
Builders broke ground on fewer homes in October, but construction was sharply higher than a year ago, and one measure of future building activity rose, according to monthly data released in Washington by the Census Bureau and Department of Housing and Urban Development.
Housing starts were at a seasonally adjusted annual rate of 628,000, down 0.3 percent from September’s pace, but up 16.5 percent from October 2010. Single-family construction was up 3.9 percent from September.
Building permits, a gauge of future building plans, rose 10.9 percent from September, and the number of permits issued were up 17.7 percent from a year earlier.
Housing starts in the South, a region that includes Washington but stretches from Delaware to Florida, jumped 21.5 percent last month, the biggest regional gain in the nation.
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Submited at Thursday, November 17th, 2011 at 8:00 pm on Uncategorized by admin
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