Housing Starts Up
Here’s a blog I also published in my real estate blog www.TotalRealEstateOnline.com earlier today. I think it has some relevancy to how things are at the moment and that maybe, just maybe, some confidence is returning to the market.
In perhaps another sign that the market is actually improving , new construction of U.S. houses increased in August, the Commerce Department estimated Thursday. Starts rose 1.5% in August to a seasonally adjusted 598,000 annualized units roughly in line with the 600,000 pace expected by economists surveyed by MarketWatch. This is the highest level of starts since last November. Starts of new single-family homes fell 3.0% to 479,000 in August, for the first decline in six months. Starts of large apartment units jumped 25.3% to 119,000. Building permits, a leading indicator of housing construction, rose 2.7% to a seasonally adjusted annual rate of 579,000. This is also the highest level since last November. So is this the good news we’ve been waiting for?
