Posts Tagged home building

Single-Family Housing Starts Decline in November

house on chart showing decrease in statistics

Amid growing affordability concerns, the number of single-family housing starts fell in November. Despite overall housing starts getting a small boost last month, the number of single-family housing starts fell 4.6 percent to 824,000 units. According to the National Association of Home Builders (NAHB), data from the U.S. Department of Housing and Urban Development (HUD) and the Commerce Department showed overall housing starts increasing 3.2 percent in November to a seasonally adjusted annual rate of 1.26 million units. This is in comparison to a downwardly revised October reading. Year-to-date, new housing starts are 5.1 percent above their level over the same

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Housing starts increased in October, but future construction may slow

home builder constructing a wooden frame

U.S. housing starts got a boost in October, thanks to a multifamily construction comeback. However, underlying data indicates the improvement may not last. According to the Commerce Department, housing starts increased 1.5 percent in October compared to the previous month to a seasonally adjusted annual rate of 1.228 million. This information was recently reported by realtor.com’s Sarah Chaney. Housing Starts Up Thanks To Multi-Family Construction The growth is being attributed to the rebound in construction of housing structures with two or more living units, i.e. duplexes, condominiums, townhomes, etc. For single-family homes, construction dropped in October when compared to the

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Builder confidence drops slightly as lumber prices climb

home builder constructing a wooden frame

As the price of lumber increased, builder confidence in the market for newly-constructed, single-family homes dropped slightly in June. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builder confidence fell two points to 68, due in large part to the recent sharp rise of lumber costs in the U.S.; however, the June HMI reflects that overall confidence remains on solid ground.

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