Mar 26 2016 19489 1

Mar 26 2016 19489 1

... Fortunately, last week we got evidence there's more money to be made in the housing market, as Housing Starts zoomed ahead 5.2% in February. That puts them at a 1.178 million unit annual rate, up an impressive 30.9% from a year ago.Single-family starts remain strong, up 37.0% in the past year, reaching their highest level since 2007. Multi-family starts haven't done too badly either, up 18.7% in the last year, with the number of multi-family units under construction at their highest level since the early 1970s. New Building Permits did dip 3.1% in February, although single-family permits are still a healthy 16.8% above a year ago.

The experts say starts should ultimately get to around 1.5 million units per year, so with permits and starts both at the 1.1 million level, there's clearly lots more recovery ahead.The National Association of Home Builders confidence index stayed at 58 in March, indicating more survey respondents are reporting good market conditions. Confidence is in the air, asfour out of five current homeowners and individuals making over $50,000 believe now is a good time to buy a home.This is from the National Association of Realtors Housing Opportunities and Market Experience (HOME) survey. Equally encouraging,56% of survey participants feel now is a good time to sell.

Salvatore Defrisco Headshot
Phone: 561-644-0052
Dated: March 26th 2016
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