Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

U.S. Housing Starts Rise
Oct 20, 2006
 Printable format
 Email this Article
 Search

Nationwide housing starts in September regained the ground they lost in a steep decline the previous month, but issuance of building permits--a key indicator of future building activity--continued on a downward trend, according to numbers released by the U.S. Census Department.

September housing starts rose 5.9 percent to a seasonally adjusted annual rate of 1.77 million units, in close alignment with July’s 1.76 million-unit rate and the third quarter’s average of 1.74 million units. Single-family starts were up 4.3 percent to a rate of 1.43 million units, while multifamily starts were up 12.7 percent to a rate of 346,000 units.

“While today’s report showed that some real strength remains in the national housing market, all of the increase in housing starts was registered in the South and Midwest, where relatively good weather conditions apparently encouraged builders to draw down their backlogs of unused permits. But we believe the trend for housing starts is still downward at this stage of the game, as evidenced by the ongoing slide in issuance of new building permits and the significant decline in the inventory of previously issued permits,” noted National Association of Home Builders (NAHB) Chief Economist David Seiders.

Regionally, starts rose 14 percent and 3.4 percent in the South and Midwest, respectively, but fell 14.1 percent and 2.2 percent in the Northeast and West, respectively.

Issuance of total building permits, which can be a good indicator of future building activity, declined 6.3 percent in September to a seasonally adjusted annual rate of 1.62 million units. Single-family permits were down 6 percent to a 1.21 million-unit rate while multifamily permits fell 7 percent to a rate of 412,000. Permits were down 3 percent in the Northeast, 6.9 percent in the Midwest and 9.5 percent in the South, and recorded no change from the previous month in the West.

“Builders are reacting to current market conditions by pulling fewer new permits and instead focusing on their backlogs of existing orders,” noted NAHB President David Pressly. “They’re also stepping up incentives to help sweeten the deal for potential buyers. These incentives, together with today’s historically favorable interest rates and the broad selection of new homes on the market, all translate to a very good environment for today’s housing consumer.”

Back to Daily News

 

Daily News

...........................................................

Apr 23, 2014: Bosch Home Appliances Garners EPA Energy Star Partner of the Year - Sustained Excellence Award

Apr 23, 2014: AO Smith Develops Ultra-Low NOx, Compact Commercial Water Heater for California

Apr 23, 2014: Dacor Launches First North American Cooktop with Touch Control

Apr 23, 2014: Existing-Home Sales Show Slight March Decrease

Apr 23, 2014: CEA: Consumer Sentiment Down in April

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows