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Posts tagged ‘housing permits’

18
Aug

Housing Starts Up – Housing Permits Down

Housing market

Housing market

The Commerce Department reported housing starts rose 1.7 percent to a seasonally adjusted annual rate of 546,000 units. June’s housing starts were revised to show an 8.7 percent fall, which was previously reported as a 5 percent drop.

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20
Jan

Housing Starts Fall – Housing Permits Rise

housing market

housing market

The Commerce Department reported today that housing starts fell 4 percent to a seasonally adjusted annual rate of 557,000 units.  A number of analysts  had expected housing starts to rise to 580,000 units. November’s housing starts were revised upwards to 580,000 units from the previously reported 574,000 units. It is thought the drop in housing starts was likely the result of unusually cold weather last month.

Starts for single-family homes fell 6.9 percent last month to an annual rate of 456,000 units after rising 4.0 percent in November. The multifamily housing segment rose 12.2 percent to a 101,000 unit annual pace, after surging 69.8 percent in November.

New building permits rose 10.9 percent to 653,000 units last month, the highest since October 2008.  For the whole of 2009, permits dropped 36.9 percent.

Del Mar San Diego housing
20
Oct

New Home Construction Falls

home constructionThe Census Bureau released the September data for new home construction

After falling in both July and August, housing starts and permits for new construction dropped again to multi-decade lows in September:

  • Housing starts fell 6.3 percent to the lowest level since 1991
  • Single family home starts fell 12.0 percent to the lowest level since 1982
  • Permits for new construction fell 8.3 percent to the lowest level since 1981

On a year-over-year basis, housing starts are now down 31.1 percent paced by a decline of 40.4 percent in the West and 32.5 percent in the South.

Permits are down 38.4 percent from year ago levels, led by a decline of 44.4 percent in the West and 37 percent declines in the South and Midwest.

In some ways, less housing starts is "good" not "bad".

There is too much housing inventory in the market caused by over-building. Less building allows the over-supply to be reduced in order to reach a balance of supply and demand which will have the effect of stopping prices from declining.

So, I would say this 'bad' news is really 'good' news in the long term.  san diego california real estate for sale