Single-Family Housing Starts : Up 35% In 12 Months

Posted on Nov 21, 2012

Every month, the U.S. Census Bureau, along with the U.S. Department of Housing and Urban Development (HUD) releases its New Residential Construction report.

The report is made up of three parts, each tracking a different phase of the new construction housing market.  The three metrics are Building Permits, Housing Starts, and Housing Completions, of which the former two -- permits and starts -- are of highest import to buyers.

Building Permits forecast future growth in the new construction market; Housing Starts suggest imminent growth.

As compared to one year ago, both measurements have shown marked growth :

  • Single-Family Building Permits : +27% from October 2011
  • Single-Family Housing Starts : +35% from October 2011

The strong market for a single-family new construction is one reason why today's home builders are as optimistic for housing as they've been since May 2006. NJ is also starting to work through it's foreclosure deadlock, so that the home market is indeed looking up.

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