The last time we reported on housing starts specifically was
back in June when it was mentioned that there was a 6.9% increase to a
seasonally adjusted mark of 760,000. Moreover, it was just days
ago when in another blog it was shared that home improvement
efforts are also on the rise. The Home Depot in particular noted a
1.7% in total revenue
overall and 2.1% for same-store revenue improvements for the
second quarter of this year. Evidently, spending on ones current or
future home built from scratch is accelerating.
The most recent findings come from August and September where
even more impressive numbers have been realized since June.
Privately owned housing starts jumped 15% since August to an annual
rate of 872,000 properties from a previous 758,000. All of this
comes from the Department of Housing and Urban Development as well
as the U.S. Census Bureau who also point out that these 872,000
housing starts are even up 34% from last year’s total of 647,000
during the same time period.
Additional statistics about just how much change has recently
occurred can be found below:
- September single-family housing starts = up 11% to 603,000 from
543,000 in August - September authorized building permits = up 11.6% to 894,000
from 801,000 in August - September authorized building permits = also up 45.1% from this
same time last year - September single-family authorizations = up 6.7% to 545,000
from 511,000 in August - Existing home sales = up 10% year-over-year
All of these positive numbers compliment the similar trends that
we have been experiencing as of late. Experts note that the
improving job market will be one of the strongest factors pointing
to even more housing starts occurring and an overall slow, yet
still improving Real Estate market Nationwide will prolong.
More Information: Housing Wire