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 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...

Help for Some Las Vegas Homeowners May Be On the Way!

While exact details have not yet been announced, it seems that help for some Las Vegas homeowners may be on the way as early as November 15th. Homeowners that have a mortgage loan guaranteed by either Freddie Mac or Fannie Mae may be able to refinance soon, even though they are underwater.The Las Vegas real estate mark...

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...

US housing market has returned to normal say academics

It’s been a year since the start of the Great Recession but it appears that the slow recovery of the US housing market is almost complete.Most markets have returned to normal according to an analysis by the Joint Center for Housing Studies of Harvard University. Its State of the Nation’s Housing report sho...

Number of retirees choosing Nevada increases

Retirees have been a player in the local economy for decades, but the breed of retiree has shifted over the course of the years. Sure, there’s always that snowbird looking to avoid harsh winters, but California has now overtaken the conversation as the largest feeder market for the Silver State. Simple real estat...

Leave a Comment

Have a Question?

Contact Us

Follow Us