Today, the U.S. Census Bureau News and the U.S. Department of Housing and Urban Development released new residential construction statistics for September 2012. The news is quite impressive! Here are some highlights from today’s release.
- Housing starts jumped 15 percent from August which is the largest increase since July 2008. Housing starts are up 34.8 percent from September 2011.
- Construction on single family homes climbed 11 percent while multi-family construction surged 25.1 percent.
- Building permits, a proxy for future construction, jumped 11.6 percent from August and is 45.1 percent above last September’s numbers. This is the biggest annual increase since 1983.
- Demand for new homes is hovering at a two year high due in part to a jump in household creation. The number of households in the U.S. grew 2 percent last year, the biggest gain in 10 years.
We are very excited about the gains in new construction. For more information about homeownership or real estate investment 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.