Although today is the first day of Spring, some parts of the country are still experiencing Winter weather. However, it has not affected housing starts as February housing starts were virtually unchanged from slightly upward revised January figures for both total starts as well as single-family and multifamily. Total housing starts were 907,000 on a seasonally-adjusted annual basis, nearly identical to 909,000 in January, which was revised upward from 880,000. Single-family starts were 583,000, up 2,000 from January and multifamily came in at 324,000, down 4,000 from January.
Regionally, single-family starts remained well below 2013 totals in the Northeast and Midwest while above last year in the South and West. The regional differences match the location of the worst below-average temperatures and above-average snow falls and support the explanation of a weather effect rather than a shift in the housing market.
Less weather-dependent permits were up almost 8% to 1,018,000, the fourth month over one million in the past year and second only to October 2013 since June 2008.
Epic Development is currently building in Buckhead, Dunwoody, LaVista Park, Old Fourth Ward, Ormewood Park, Sandy Springs and Virginia Highland. View all the details of our current listings here. For more information about homeownership or real estate investment in Atlanta call Jim LaVallee at 404-847-9080 or write Jim@EpicDevelopment.com. For more information about commercial real estate operations or investment visit EpiCity.com.
Graphic and statistics provided by National Association of Home Builders