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Housing Starts Continue To Fall

By
Services for Real Estate Pros with TheHousingGuru.com

Following the expiration of the Housing Tax Credit, single-family housing starts continue to fall, and are now 17.2 percent below the revised April number of 565,000. Seasonally adjusted starts for May were 468,000, the lowest level in the past year.

 

A decline in BUILDER CONFIDENCE seems to have been confirmed as single-family building permits fell by 9.9 percent below the revised April level of 486,000. The low number of building permits is a further indication that housing starts should remain low in the near term as builders and their lenders continue to exercise caution.

Graph of housing starts

See the full report from the Census Bureau.

 

The graph from Calculated Risk shows just how far housing starts have fallen since their peak.

 

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Jon Budish
Resident Realty - Fort Collins, CO

The report is sobering, but expected by anyone who has a clue.

Jun 16, 2010 09:51 AM
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Jon - Yes, if it comes as a surprise, you need to get help.

Jun 16, 2010 10:15 AM
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Wow, only a quarter of the Bush years, and their very bad, worst economy ever, administration.  Gee, why?

 

(;>)

Jun 16, 2010 10:47 AM
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Jay - Only the "shadow" knows.

Jun 16, 2010 01:49 PM
Esko Kiuru
Bethesda, MD

John,

I'm still puzzled that we have about 500,000 housing starts when there is so much vacant inventory out there.

Jun 16, 2010 03:01 PM
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Esko - There is still demand in some areas; and in almost all areas a few builders are able to generate a few sales.  Overall though, it's pretty dismal.

Jun 16, 2010 03:23 PM
Lina Robertson
AMAX Real Estate - Springfield, MO
REALTORĀ® Serving Springfield, Nixa and Ozark, MO

John - that's pretty much the same picture we are seeing in our area.  We thrived on new construction during the boom years with Greene and Christian counties being the fastest growing counties in the State of Missouri, but I would venture to guess that nearly 50% of our unemployment and foreclosures are due to the loss of new construction in our area.  Thanks so much for sharing!

Jun 16, 2010 04:40 PM