According to the Commerce Department, housing starts jumped 10.5% to a seasonally adjusted annual rate of 598,000 in August from a revised 541,000 in July. New construction was up 2.2% from a year ago. Permits for future construction rose to a seasonally adjusted annual rate of 569,000 last month, up 1.8% from July and the highest level in two months. New construction of single-family homes, the key sector of the housing market, rose 4.3% over the month to an annual rate of 438,000. The annual rate for new construction of multi-family homes - buildings with 5 or more units - was 147,000. Permits for future construction rose to a seasonally adjusted annual rate of 569,000 last month, up 1.8% from July and the highest level in two months.
Yes, they are even building again here in Florida, I’ve managed to secure two new construction projects this month, who would have guessed?
All attempts to re inflate the housing bubble will end in tears.
Of course this is just my opinion. YMMV
Don’t get your hopes up.
Any good news is better than any bad. If nothing else, the downward spiral has been stopped & the market has leveled out.
I have a more optimistic outlook than the naysayers here. I believe things will start trending upward sooner rather than later.
Nick, et al,
The trouble with government numbers is we make decisions based on them, then they get revised (usually for the worse), and we simply can’t trust the source. Sad, but true. However, we all have to remain positive (not to be confused with naive) and move forward. We are not islands in this. Right?