US housing starts, building permits fall in Sept – gulf-times.com – Building permits declined to their lowest level in almost 1-1/2 years. The housing market, which has been a weak spot in a robust economy, has been hobbled by an acute shortage of properties for sale.
For housing starts, this was the fifth negative YoY reading in a row (with March’s result being the worst, at -14%), something that has not occurred since 2009. for starts and permits might be.
Starts would then fall below a million units midway into 2008. As such, even if the good news on permits is sustained, there is still a long way to go on the building front before we are into a full recovery. Housing is likely to remain depressed for the coming year and perhaps well into 2012.
But the average mortgage has fallen since November, and that may help some Americans to become owners in 2019. Also, the pace of rising prices has slowed while wage growth. permits fell 2.2 percent.
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Building permits fell 1.7 percent to a rate of 1.269 million units in March, the lowest in five months. Building permits have now declined for three straight month. Permits for single-family housing dropped to a more than 1-1/2-year low in March, a bad omen for starts in the coming months.
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Starts declined 5.7% in the South and 5.5% in the West. Overall permits, which are a harbinger of future housing production, edged up 0.6% to a 1.3 million unit annualized rate in april. single-family permits fell 4.2% to 782,00, the lowest level since October 2016. Multifamily permits increased 8.9% to 514,000.
Economy Watch: Housing Starts Pick Up, Permits Go Down Annualized single-family housing starts totaled 593,000, or 10.2 percent more than the revised March figure. May 19 2010
Starts for the multi-family housing segment rose 2.4 percent to a rate of 304,000 units in January. Permits for the construction of multi-family homes increased 7.2 percent to a pace of 533,000 units.
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