First World Champion Sprinter

U.S. homebuilding is certainly following the advice of the first World Champion sprinter from Saint Kitts and Nevis.¬†With housing starts registering a 699,000 annual rate in January, we’re still a good way from perfection, but continuous improvement is being demonstrated. Also improved were December’s starts, upwardly revised to 689,000. Best of all, the three-month moving average improved to a 697,000 annual rate, a three-year high. And single-family starts are up 16.2% versus a year ago.¬†

New building permits were also up in January 0.7%, to a 676,000 annual rate. Versus a year ago, they’re up 55% for multi-family and up 6.2% for single family homes. Even better, the number of single-family homes under construction was up 2.1% in January, the largest gain since 2004. And there were 119,000 more single-family starts than completions in January, the widest gap in those numbers since the housing boom peak in 2006. Builders clearly are more optimistic.

This entry was posted in Home Building, Ping.fm, Real Estate. Bookmark the permalink.

Comments are closed.