Single-family housing starts plummeted to a one-year low in May, just 30 days after soaring to a 20-month high. It’s no wonder home builders are confused.
Single-family housing starts plummeted to a one-year low in May, just 30 days after soaring to a 20-month high. It’s no wonder home builders are confused.
Home prices are based on housing’s supply and demand. For the next few months, supply should elevate, helping prices remain suppressed, after which, supply should dwindle. The best time to buy a home, therefore, may be right this very minute.
A Housing Start is a new home on which construction has started and, over the last 6 months, home builders are averaging one half-million starts per month. This marks the highest 6-month average since 2008 and a reading one-fifth percent better from 12 months ago. Revisions to prior data have all been higher, too.
Single-family Housing Starts idled last month, dropping just 3,000 units from the month prior, or 0.2%. According to the Commerce Department’s report, February marked the 8th straight month in which Housing Starts straddled the half-million marker, dating back to June 2009.
Florida mortgage borrowers keeping track of home prices should pay attention to housing start trends.
Florida mortgage rates are great right now, holding steady at or just below 5 percent. However, the latest housing starts data indicates that home prices may be on the rise.
Extra, extra... read all about it! New home construction for February surged up 22 percent, according to recent Housing Starts data , and it ...