Single-Family Starts Save the Day

single-family-starts-and-permits

Housing starts rose 0.9% in August pushed by a solid 7% increase in single-family starts and tempered by an 11% fall in multifamily starts. The single-family increase was broad; all four census regions showed increases ranging from 17.5% in the West to 2.3% in the South. Monthly multifamily starts have saw-toothed up and down for several months with four up months and four down months in 2013.

Housing permits demonstrated the same signal with single-family permits up 3% nationally and up or unchanged in every region. August single-family permits at 627,000 are the highest since May 2008. Similar to starts, multifamily permits were down 15.7% to an annual level of 291,000. The three month moving average, a more stable measure of multifamily, has remained above 300,000 since the middle of last year.

The solid single-family report provides additional evidence of the slow but steady improvement in single-family owner-occupied construction that begin in earnest in early 2012. The seasonally-adjusted construction rate increased 36% since January 2012. Even with the steady rise, single-family starts remain at less than half a normal rate of 1.4 to 1.5 million per year. The broad increase across four regions in permits and starts is a solid signal that builders do see continued improvement. NAHB is forecasting a 17% increase in single-family construction in 2013 over 2012 and a more robust 31% increase in 2014.

Source:  Eye On Housing

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12 Comments

Filed under Before Buying a House, Credit Cards, Credit Scores, Dallas Real Estate, Dallas Texas REALTOR, Flower Mound, Flower Mound Homes For Sale, Grapevine, Grapevine Texas REALTOR, Interest Rates, Mortgages, Real Estate, Texas, Texas Homes For Sale, Texas Real Estate

12 responses to “Single-Family Starts Save the Day

  1. The statistics itself explains a lot. Great read. Thanks for sharing this information.

  2. Love how things are looking up!

  3. Irene S.

    Market is growing and our economy seems to be on the upswing.

  4. symgirl

    These housing statistics are interesting. I wonder how our local area stacks up to these numbers.

  5. It looks like single family home investments is the way to go in this market:)

  6. Interesting.. the bestt way to get housing is pray for rain storms and collaps the market into affordability or new laws allowing us to build anything anywhere

  7. These are some interesting stats!

  8. Saving is a science of equilibrium between enjoying life and be in control!

  9. Great news, Thank you.
    This is music to my ears.

  10. Don Purdum

    Sounds great for the economy and I hope the trend picks up nationwide!

  11. I am happy to hear that the market is coming back around. I realize buying a home is an investment but the California market is very different than the Tennessee market.

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