Housing And Constructuion Industry Stats For January’s 1st Week

 

Building Permits – Building permits increased to a 584,000 annualized pace, the highest level since November 2008, from 551,000 in October. While this marked a 6.0% month-over-month increase, permits are still down 7.3% from year-ago levels.  – Housing starts rose 8.9% from October to a seasonally adjusted annual rate of 574,000 in November, but remain down 12.4% on a year-over-year basis. In October, housing starts fell unexpectedly as builders halted construction ahead of the original end of November expiration of the federal tax credit for first-time home buyers

Let’s hope the numbers remain positive so we can buy more great tools and keep on working!

U. S. Housing Starts Surge

Good news at last! New housing starts and permits unexpectedly rebounded in February! The Commerce Dept. said housing starts leaped 22.2% to a seasonally adjusted rate of 583,000 units from 477,000 units in January. This was the biggest percentage rise since January 1990 and also marked the first increase since last April!

 

New building permits, which guide us for a sense of future home construction, rose 3% to 547,000 units, from 531,000 units in January. That also marked the first advance in permits since last April.

Hey, we’ll take any good news that may signal our tools are going to start to get used again! Keep the move in the right direction baby!

Housing Starts Contract Once Again

The marathon seems to continue on as housing starts can’t seem to find stability in this extremely weak economy. The Commerce Department announced that the overall pace of housing starts contracted yet again in January, extending its current streak of month-over-month declines to seven. More specifically, 466,000 new houses broke ground in January compared to the 550,000 started in December. Below even more historical levels, activity in the housing sector is currently growing at a rate acutely below that of its potential. Looking ahead slightly, trends in building permits offer little reprive as 521,000 permits where pulled last month for future construction.

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