NEW RESIDENTIAL CONSTRUCTION

By
Real Estate Agent with Weichert Realtors

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 552,000.

This is 4.0 percent (±1.9%) below the revised September rate of 575,000 and is 24.3 percent (±1.9%) below the October 2008 estimate of 729,000. 

Single-family authorizations in October were at a rate of 451,000; this is 0.2 percent (±1.0%)* below the revised September figure of

452,000. Authorizations of units in buildings with five units or more were at a rate of 85,000 in October.

HOUSING STARTS

 

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 529,000. This is 10.6 percent (±8.7%) below

the revised September estimate of 592,000 and is 30.7 percent (±8.3%) below the October 2008 rate of 763,000.

Single-family housing starts in October were at a rate of 476,000; this is 6.8 percent (±7.5%)* below the revised September figure of

511,000. The October rate for units in buildings with five units or more was 48,000.

HOUSING COMPLETIONS

NJEstates.net

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 740,000. This is 1.9 percent (±12.4%)*

above the revised September estimate of 726,000, but is 29.9 percent (±9.7%) below the October 2008 rate of 1,055,000.

Single-family housing completions in October were at a rate of 528,000; this is 10.7 percent (±14.5%)* above the revised September

figure of 477,000. The October rate for units in buildings with five units or more was 200,000.

New Residential Construction data for November 2009 will be released on Wednesday, December 16, 2009, at 8:30 A.M. EST.

Read more: http://www.census.gov/const/newresconst.pdf

Paul Stillwaggon,
For All Your Real Estate Needs
Contact New Jersey Estates
Real Estate Group

E-mail: njestates@gmail.com
Web: http://www.newjerseyestates.net
908-561-5492 (Paul S) 908-310-1358 (Cell)

NJ Estates Real Estate Group
Weichert Realtors

908-561-5492
55 Stirling Road, Watchung, N.J. 07069


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Comments (2)

John Thomas
E3 Green HOMES - Boulder, CO
EcoBroker, MSEE, MBA

Thanks for the data Frank. It would be nice if we could move the millions of homes sitting vacant now before we build too many more.

Dec 15, 2009 07:57 AM
Jane Nicastro-Disch Warren NJ
Weichert Realtors - Warren, NJ
NJ Estates Real Estate Group of Weichert Realtors

Thanks for your reply to my post, John. We both understand that real estate will move if it is in a good location and at market value. Regards,

Dec 15, 2009 09:21 PM

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