Looking at recent inventory activity, permits issued for construction of private homes in September grew to an annual rate of 1.22 million, which was 6.3 percent over August’s rate of 1.15 million, and is 8.5 percent higher than the September 2015’s pace of 1.12 million, according to The U.S. Census Bureau and the Department of Housing and Urban Development. Permits issued for single-family homes grew 0.4 percent to an annual rate of 739,000.
Construction starts on private housing in September dropped to an annual rate of 1.04 million, marking a 9 percent decline from August’s estimate of 1.15 million, and an 11.9 percent drop from September 2015’s rate of 1.18 million. That said, starts on single-family homes in September hit a rate of 783,000, which marked an 8.1 percent gain over August’s pace of 724,000.
Author:Don Fleming Phone: 917-453-2505 Dated: October 25th 2016 Views: 46 About Don: Don Fleming has been practicing real estate for more than 10 years , with the primary goal to become...
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