Courtesy of the National Association of Home Builders
The Commerce Department published this week that housing starts rose 20.2% from March to April earlier to a seasonally adjusted annual rate of 1.135 million. It was the highest percentage level of starts since November 2007 and the biggest percentage increase since February 1991.
Some of the increase was due to poor readings in February and March due to particularly cold and snow-laden weather. But the increases, particularly in the single-family market, are also indicative of the continued healing taking place. As employment grows and some wages increase and as home equity improves, some of those households break out of their concerns and are beginning to shop for a new home.
New applications for building permits, which are a bellwether for future construction, increased 10.1%. The pickup in activity was broad-based with single-family starts climbing 16.7% while multi-family projects rose 27.2%.
If you are looking for a new home, check out our current inventory. We are building in Brookhaven, Grant Park, Old Fourth Ward, Ormewood Park, Reynoldstown, Riverside and Sandy Springs. For more information about our homes, contact Scott Eaves at (404) 518-3820 or scott@epicdevelopment.com.