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Monthly archive for February 2018

Housing Starts Up Nearly 10% in January

Construction on new homes in the U.S. soared in January, as housing starts jumped nearly 10% to an annual rate of 1.33 million. That marks the second highest level since the Great Recession. According to the latest housing starts report from the U.S. Census Bureau, privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,326,000 — 9.7% above the revised December estimate of 1,209,000 and 7.3% above the January 2017 rate of 1,236,000. Building permits, which are an indicator of future housing starts, increased 7.4% in January. This was higher than the revised December rate of 1,300,000

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Builder confidence for 55+ housing market hits record high

baby boomers looking at computer

The market for single-family homes designed for people 55 and older reached a new high in the fourth quarter of 2017. Builder confidence in the 55+ market hit a level of 71, up 12 points from the previous quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released February 1. This is the highest reading since the inception of the index in 2008. Worth noting is the fact that the fourth quarter’s record high was pushed largely by strong demand and not necessarily sales.  Chuck Ellison, chairman of NAHB’s 55+ Housing Industry Council and Vice President-Land

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Home Construction Up 9.7% in January

More homes were built in the first month of January, starting 2018 on an optimistic note for economic growth and real estate prices. The number of new housing units being constructed rose 9.7% in January from the previous month to an annual rate of 1.326 million, the U.S. Census Bureau/ U.S. Department of Commerce announced February 16. This marked the third increase in four months. The report indicated that builders are also planning to increase construction activity later this year. Permits to build increased 7.4% in January to an annual pace of 1.396 million. Even with this optimistic trend, economists say the

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