More Bullish Data : Housing Starts Climb 3.6%

Housing Starts

According to a joint release from the U.S. Census Bureau and the Department of Housing and Urban Development, Housing Starts rose 3.6% in October 2012, climbing to a seasonally-adjusted, annualized rate of 894,000 units.

A “housing start” is a new home on which construction has started and the report gives buyers and sellers across MD yet one more reason to be optimistic for the 2013 housing market.

Regionally, Housing Starts varied.

The West and Midwest Regions posted gains between September and October 2012; and, the South and Northeast Regions posted declines. The latter was affected by the effects of Hurricane Sandy.

  • West Region : +17.2% from the month prior
  • Midwest Region : +8.9% from the month prior
  • South Region : -2.5% from the month prior
  • Northeast Region : -6.5% from the month prior

Single-family housing starts — starts for homes not considered multi-unit properties or to be apartment buildings — was mostly unchanged, slipping 1,000 units on a seasonally-adjusted annualized basis.

The Housing Starts data is the third housing-related release this week that hints at a strong start for the 2013 housing market.

Early in the week, the National Association of Homebuilders released its Housing Market Index (HMI), a measure of home builder confidence in the new construction market. The HMI posted 46 — the highest reading since 2006. With mortgage rates low and buyer traffic high, builders are expecting a rash of sales between now and the New Year, and an elevated number of closing over the next six months, in general.

The HMI is scored on a scale of 1-100. One year ago, it read 19.

Then, the National Association of REALTORS® showed Existing Home Sales climbing 2.1% and home supply fell to a multi-year low. At the current sales pace, the entire U.S. home inventory would be sold in just 5.4 months. Analysts believe that a home supply of less than 6.0 months favors home sellers.

In unison, these three housing market reports suggest a sustained, national housing market recovery. Home prices are expected to rise into next year’s housing market.

0 commentsback to post

Other articlesgo to homepage

Homebuilder Confidence Nearly Triples In 2 Years

Homebuilder Confidence Nearly Triples In 2 YearsComments Off on Homebuilder Confidence Nearly Triples In 2 Years

The National Association of Homebuilders (NAHB) Housing Market Index ended its 8-month winning streak this month.

Pending Home Sales Index Cruises To Multi-Year High

Pending Home Sales Index Cruises To Multi-Year HighComments Off on Pending Home Sales Index Cruises To Multi-Year High

In November, for the second straight month, the Pending Home Sales Index eclipsed its benchmark reading of 100, posting a value of 106.4.

Case-Shiller Index Posts 4% Annual Home Price Gain

Case-Shiller Index Posts 4% Annual Home Price GainComments Off on Case-Shiller Index Posts 4% Annual Home Price Gain

The Case-Shiller Index showed home prices gaining 4.3 percent during the 12-month period ending October 2012.

Housing Starts, Building Permits Rising Into 2013

Housing Starts, Building Permits Rising Into 2013Comments Off on Housing Starts, Building Permits Rising Into 2013

Rising permits and housing starts suggests a more healthy U.S. economy.

Homebuilder Confidence Rises For 9th Straight Month

Homebuilder Confidence Rises For 9th Straight MonthComments Off on Homebuilder Confidence Rises For 9th Straight Month

The National Association of Home Builders (NAHB) released its Housing Market Index (HMI), showing another monthly gain — its ninth in a row.

read more
Fill out my online form.

Contacts and information

Most Popular Articles
VA Streamline | IRRRL | VA Streamline Refinance Loan
Compare Mortgage Rates the Smart Way
VA Streamline Refinance Rates - How to Get the Best Deal
Best Refinance Lenders - How to Find the Pros

Hot Rates, Clear Terms, Cool Savings

Social networks

Most popular categories

© 2012 HotRateQuote.com theme by Joe Design All rights reserved. Compare Mortgage Rates Lower Interest Rate