KENNETH BARGERS | In The News

Realtor, Tennis Player, Titans & Vols Fan, Nashvillian… Live! Work! Play! in Middle Tennessee

Housing Starts Up 3.6 Percent in October

with one comment

Housing Starts Up 3.6 Percent in October
Press Release by National Association of Home Builders

November 20, 2012 – Nationwide housing production rose 3.6 percent in October to a seasonally adjusted annual rate of 894,000 units, according to the U.S. Commerce Department. This is the highest pace of new-home construction since July of 2008.

“This report is in line with our latest builder surveys, which show improving confidence and optimism in the marketplace as buyers take advantage of low mortgage rates and very attractive prices,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “Builders are acting to meet rising demand while continuing to exercise caution by pulling a modest increase in the number of single family permits as the market continues to gradually gain its footing.”

“Today’s report bears out similar changes in other economic indicators that housing continues to recover at a slow but steady place, and is right in line with our expectations of modest month-to-month growth,” said NAHB Chief Economist David Crowe. “However, we still have a long way to go to get back to normal production as inaccurate appraisals, tight lending conditions for home buyers and policy uncertainties continue to impede the recovery.”

Single-family housing starts in October were virtually unchanged at 594,000 units while multifamily production posted an 11.9 percent gain to 300,000 units – the best pace since July of 2008.

On a regional basis, overall housing starts rose 17.2 percent in the West and 8.9 percent in the Midwest while posting a storm-related decline of 6.5 percent in the Northeast and 2.5 percent in the South.

Permit issuance, which can be a harbinger of future building activity, fell 2.7 percent to a seasonally adjusted annual rate of 866,000 units in October. The drop in permits was focused in the apartment sector as multifamily permits fell 10.6 percent from an unusually high September level to 304,000 units. Meanwhile single-family permits rose 2.2 percent to 562,000 units.

Source: NAHB, Housing Starts Up 3.6 Percent in October | Blog distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Advertisements

One Response

Subscribe to comments with RSS.

  1. […] Housing Starts Up 3.6 Percent in October […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Hiaco

Ad, Sales & Marketing.

Rachel Being Chatty

Now featuring 15% more sarcasm.

MovieBabble

The Casual Way to Discuss Movies

The Ninth Life

It's time to be inspired, become encouraged, and get uplifted!

MovieBabble

The Casual Way to Discuss Movies

The Shameful Sheep

shit storms, shame, and stories that make you cringe

Autoindigo Blog

Fresh news about automotive world. Cars overviews written by experts, pros and cons, features, performance, safety, interior and driving.

Little Fears

Tales of whimsy, humour and courgettes

www.virtual-reality-shop.co.uk/

VR, AR, 3D and Video Glasses Reviews

Woodstock Business Welcome

Welcome Wagon Canada

Blookup Blog

Turn and print all your digital contents, blogs and social networks into amazing real paper books on blookup.com

nalinidesignprofile

Graphic Designer

Sableyes

Sabbles woz 'ere

518-songofmypeople

A town everyone hates, yet no one leaves...

Attila Ovari

Loving Life and Inspiring Others

Augusta Littleton

Nonprofits and Charities

The Home Buyer Class Blog

What to know when buying a home

The Contractor's Cabinet

A Blog On Construction & More

Gamintraveler

Love, Travel Lifestyle and Destinations

kelzbelzphotography

My journey - The good, bad and the ugly

antryump

"A Blog worth reading "

john pavlovitz

Stuff That Needs To Be Said

Smart Discount Shop

Discover all the creative and ingenious ways to save money !

playwithlifeorg

4 out of 5 dentists recommend this WordPress.com site

ultimatemindsettoday

A great WordPress.com site

Vonj Productions

Bringing you love through spirit!

The Dystopian Nation of City-State

A cruel, futuristic vision created by science fiction authors James Courtney and Kaisy Wilkerson-Mills. ©2013-2016. All Rights Reserved. All writings available through Amazon.

Bubba Pigg

South' s Leading Anti- Intellectual: Wealthy in Common Sense and the Wisdom of Selfishness

@TheTexasBroker Blog

Real Estate Sales Houston Texas

The Travelling Pantry

Adventurous, Honest and Wholesome

Top 10 of Anything and Everything!!!

Animals, Gift Ideas, Travel, Books, Recycling Ideas and Many, Many More

meganelizabethmorales

MANNERS MAKETH MAN, LOST BOYS FAN & PERPETAUL CREATIVITY.

William the butler

Serving drinks since 1985

lauraagudelo272

This WordPress.com site is the bee's knees

Plutonium™ Paint

Ultra Supreme Professional Grade Aerosol Paint

Levi's Daily Thoughts

For I know that my Redeemer lives Job 19:25

Covered in Beer

by Thomas Cochran, Known Moron

Natalie Breuer

Natalie. Writer. Photographer. Etc.

Post it Notes from my Idiot Boss

delivered directly to my computer monitor on an all too regular basis...

Late Blooming Entrepreneurs

Making it big in business after age 40