Housing Starts Up 46.7%

130412 Wimberly Framing

The U.S. Census Bureau and the Department of Housing and Urban Development announced on Tuesday that housing starts, the number of privately owned new houses started in a given time period,  rose 7% from February to March and are up 46.7% from a year ago which is the highest level in five years.  Housing starts hit 1.03 million units in March, up from 968,000 in February and above 706,000 units last year.  Housing completions, the number of new homes made ready for occupancy, rose 11% from February to March and is 36.3% above last year’s estimate.  

Chief Economist for Quicken Loans states, “pent up demand is spurring growth in building and since the current inventory can’t keep up, consumers are opting to build.  This is yet another sign of a strengthening economy along with last week’s boost in mortgage applications and ever growing home prices.”  

For more information about new construction  in Atlanta call Jim LaVallee at 404-847-9080 or write Jim@EpicDevelopment.com. View all the details of our current listings here.  For more information about commercial real estate operations or investment visit EpiCity.com.

2017-08-29T17:44:29+00:00 April 18th, 2013|Economic News|