Private housing starts off decreased at 2.6 percent month-over-month to 1.25 million in January 2017. This is up from December 2016’s revised estimate of 1.28 million. Yearly, this is up 10.5 percent from the January 2016’s 1.13 million.
Housing starts begin year slightly lower
The news comes after last year posted the best year for housing starts since 2007. “For the year as a whole, housing starts of 1.17 million units were the strongest since 2007 as home builders try to keep up with rising demand,” Nationwide Chief Economist David Berson said about the December housing starts report. Meanwhile, single-family housing starts in January came in at a rate of 823,000, which this is… Read more at HousingWire.com
US housing starts off choppy in recent months, but the little increase in building permits is a good sign of what’s in store in 2017. The slight drop in single-family permits isn’t particularly encouraging, but the slight drop indicates a decent number of construction projects are coming up.
Housing Starts Drop in January, Keeping Inventories Tight
The report was generally considered to be underwhelming for a real estate sector that in many parts of the country is short on available homes. With interest rates still low and mortgages relatively affordable, demand for housing in much of the country outstrips the supply of available homes for sale. This has restricted home sales in recent months and has led to price increases that are believed to be… Read more at USNews.com
U.S. home sales drop as supply tumbles to 17-year low January 24, 2017
U.S. home sales drop as supply tumbles to 17-year low January 24, 2017 U.S. home resales fell more than expected in December as the supply of houses on the market dropped to levels last seen in 1999, but the housing market recovery remained intact against the backdrop of a tightening labor market. The National Association of Realtors said on Tuesday existing home sales decreased 2.8 percent to a… Watch more