Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Housing Starts Surged in October

Posted by Ben Jones on Tuesday, November 19th, 2019 at 4:53pm.

Housing starts in October rose by 3.8 percent to a seasonally adjusted annual rate of 1,314,000, according to the latest data from the U.S. Census Bureau and Department of Housing and Urban Development.

After several months of gains, starts are up 8.5 percent year-over-year. Building permits for private homes rose by 5 percent to a seasonally adjusted rate of 1,461,000. Completions, meanwhile, rose 10.3 percent to a seasonally adjusted rate of 1,256,000.

“October’s housing starts were a robust rebound from last month and a sign that builders are optimistic about the direction of the housing market,” Zillow economist Matthew Speakman said in a statement. “Low mortgage rates have buoyed demand for homes, helping drive strong builder confidence despite a shortage of buildable lots and available labor.”

Read More



Related Blog Posts

Condo Market Changing Across the Country

Well, it's the first day of 2013, and the beginning of a new year of "statistics" for the national real estate market. I thought I would start this year out by posting an article from one of my Realtor buddies in Myrtle Beach, South Carolina at the Harrelson Group.  We like to confer about changing market cond...

Home sales beat forecasts setting new post 2007 record

Sales of  previously owned U.S. homes climbed for the fifth time in six months to the highest level since 2007, indicating housing-market momentum will extend into 2017, National Association of Realtors data showed Wednesday. by Patricia Laya at Bloomberg Key PointsContract closings rose 3.3 percent to a 5....

Open House this Weekend - 6319 MUSTANG SPRING AVE - Las Vegas Home for Sale

Join us on Saturday and Sunday for a Las Vegas open house. 6319 Mustang Spring Avenue Saturday 9/14 - 12pm to 3pm Sunday 9/14 - 1pm to 4pm Stunning & immaculate American West, Alexander model featuring 4 bedrooms 3 baths, 1 loft & 1 den with 3 car garage! This gorgeous home features a great entryway with...

Home prices rise as supply tightens

Home prices in the U.S. increased 6 percent in the first quarter from a year earlier as competition heated up for a scarcity of listings. Prices rose 1.4 percent on a seasonally adjusted basis from the previous three months, the Federal Housing Finance Agency said in a statement Wednesday. In March, prices cli...

Culinary & Bartenders Housing Partnership

The Nevada Partners & Culinary and Bartenders Housing Partnership has placed over 560 union families into homeownership since it was created in 2008 and provided approximately $4,000,000 in down payment assistance and closing costs. Key Elements of the Program Include: 1. The down payment assistance loan up...

Leave a Comment

Have a Question?

Contact Us

Follow Us