RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Early Spring Building Bloom: Housing Starts Hit Nine-Year High

Home News
By Zoe Eisenberg
March 16, 2016
Reading Time: 2 mins read
Early Spring Building Bloom: Housing Starts Hit Nine-Year High

housing_starts_spring

housing_starts_springThe U.S. housing market continues to rebound, with single-family housing starts inching up 7.2 percent, their highest level since November, 2007, according to the U.S. Census Bureau and the Department of Housing and Urban Development. In February, builders started production on 1,178,000 homes, a 5.2 percent increase over January and a 30.9 percent increase from February 2015. Single-family home completions also increased, rising 6.1 percent to a 736,000 annualized rate, the highest peak since November 2008.

“A rise in housing starts this month shows signs of an early spring bloom for home-building,” says Quicken Loans Vice President Bill Banfield. It is encouraging to see this month’s report was being driven by starts for single-family homes – rising to their highest levels in more than eight years. While we’ve experienced month-to-month volatility in these reports, it’s important to focus on the positive trend reflected in the year-over-year data.”

The report shows multifamily starts hovering in place with a small 0.8 percent increase. While single-family permits remained practically unchanged, multifamily permits fell 8.4 percent.

“The overall takeaways from this report are that month-to-month we are seeing the expected growth in new construction, but we also appear to be at an inflection point with regard to single-family construction now growing faster than multi-family,” says Jonathan Smoke, Realtor.com’s chief economist. “It is somewhat concerning that the pace of starts is now greater than the pace of permits. This could be a one-month anomaly given the tendency of the starts data to be revised, but if the pattern holds, it would signal slower growth ahead in construction activity. That is not what the market needs to address the undersupply of both for sale and for rent units on the market.”

What are the reasons behind this golden single-family report? Experts point to rising employment, low mortgage rates and heightened housing demands.

ShareTweetShare
Susanne Dwyer

Susanne Dwyer

Related Posts

WATCH: The Art and Science of Negotiation
Agents

WATCH: The Art and Science of Negotiation

May 16, 2022
Biden Revives Housing Priorities in New Roadmap
Agents

Biden Revives Housing Priorities in New Roadmap

May 16, 2022
BHGRE Announces Affiliation of Green Lake, Wisconsin Firm Special Properties
Agents

BHGRE Announces Affiliation of Green Lake, Wisconsin Firm Special Properties

May 16, 2022
Don’t Get Burned: Fire Risk Database Informs Consumers
Agents

Don’t Get Burned: Fire Risk Database Informs Consumers

May 16, 2022
Mortgage Market Strain Starts to Squeeze Major Players
Agents

Mortgage Market Strain Starts to Squeeze Major Players

May 16, 2022
4 Tips to Instantly Improve Your Facebook Strategy
Agents

4 Tips to Instantly Improve Your Facebook Strategy

May 16, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

How Agents Turn Low Home Inventory Into a Marketing Advantage

By targeting the right prospects, creative messaging, and using proven marketing tactics, you can break through the crowded marketplace and... See How

Business Tip of the Day provided by

Recent Posts

  • WATCH: The Art and Science of Negotiation
  • Biden Revives Housing Priorities in New Roadmap
  • BHGRE Announces Affiliation of Green Lake, Wisconsin Firm Special Properties

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kitt Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.