The start of this year’s single-family housing were above their 2016 average in December, although they fell 4% from an unusually strong November. As compared to last year, construction began on 4% more homes, on a seasonally-adjusted, annualized basis, to 795,000 units nationwide. This marks one of the highest surveys of the year.
Report: Single-Family Housing Starts End 2016 On A High Note
It seems the biggest concern for builders at the moment is finding buildable lots, and hiring workers to construct homes. If home builders could build more, they would. Production is not meeting demand. That could mean higher prices in 2017, plus fewer free upgrades from builders, and more competition from other buyers. The best deals in real estate could be the ones available right now… Read more at The Mortgage Reports
Single Family Housing Starts Surges
The Commerce Department said, groundbreaking on single-family housing projects, which accounts for the largest share of the residential housing market, jumped 8.1 percent to a 783,000-unit pace last month. That was the highest level since February. A tightening labor market, which is steadily pushing wages higher, as well as low mortgage rates are underpinning demand for housing. Single-family starts are also getting a boost from a chronic shortage of previously owned homes available for sale… Watch here