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 Decline in February
Mar 17, 2006
 Printable format
 Email this Article
 Search

Following the warmest January on record that helped spur a 16-percent jump in new-home construction, the U.S. housing market showed signs of cooling in February, with total housing starts declining 7.9 percent to a seasonally adjusted annual rate of 2.12 million.

Single-family home construction fell 2.3 percent to 1.8 million units. Multifamily starts fell 30.4 percent to 320,000 units after posting an unsustainably high level of 460,000 units in January.

"Housing starts have received a boost from unusually mild winter weather, even in February, and we expect to see these numbers move further down in the months ahead," said NAHB Chief Economist David Seiders. "Indicators that measure housing demand -- home sales, applications for home mortgages and our own survey of single-family builders -- show that the cooling process has begun."

Seiders added that the evolving slowdown is actually a healthy development and should not lead to any major contraction in the housing markets.

"Last year's record-level of housing starts and double-digit price appreciation were unsustainable, and encouraged many investors and speculators to enter the market," he said. "With demand slowing, we expect to see price appreciation also falling back into the single-digit range, and that will discourage short-term speculators from jumping into the market. We anticipate another solid year for housing in 2006, with new-home construction and new home sales down about 7 percent from last year's all time highs."

Regionally, construction of new homes and apartments for the month was down 23.5 percent in the Northeast, 10.4 percent in the Midwest and 11.2 percent in the South. Starts posted a 7.9 percent gain in the West.

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