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Home Building Dips; Still at 4-Year High

Wednesday, December 26, 2012   /   by Nathan Clark

Home Building Dips; Still at 4-Year High

 


The pace of new home construction in theUnited   Statesslipped slightly in November, according to the U.S. Census Bureau, but the rate of housing starts still marked a four-year high.


 


According to the government’s statistics, November housing starts showed an annual rate of 810,000 homes. That’s down about 3 percent from October but still 21.6 percent higher than last year.


 


Some of the month-to-month slowdown might be attributed to superstormSandy, which hit the Northeast on Oct 29. According to the Census Bureau figures, housing starts were down about 6 percent in that region in November.


 


New building permits, a forward-looking indicator, rose by 3.6 percent in November, a sign that the housing-start slowdown might be temporary. Also, the National Association of Home Builders on Dec. 18 revealed that builder sentiment was at its highest level since 2006.

Nathan Clark & Associates
Nathan Clark Team
39 Cedar Swamp Rd
Smithfield, RI 02917
401-232-7661

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