New home contruction Natioanlly end of the year 2011

By
Industry Observer with Howard Sumner Consulting

When reviewing the information about new construction whether permits, starts, or sales, if as many talking heads profess, that housing is “recovering” why are all categories 52 to 59% off the fifty year averages and down 72 to 76% from the peaks. And construction employment has dropped from 8,045,000 million people employed to 5,436,000 million people employed. The question i have to ask myself, if you go from no pulse in intensive care to a pulse are “recovering” or just not dead.

 

 

actual total for year

permit issued

 

start of construction

   

multi

single

 

multi

single

single sales

2010:

Year to Date

604.6

447.3

 

586.9

471.2

323

 

2011:

Year to Date

611.9

413.7

 

606.9

428.6

302

 

year over year + or  -

1.21%

-7.51%

 

3.41%

-9.04%

-6.50%

 
                 

seasonally adjusted

             
 

permits issued

     

permits issued total

   
 

one unit structure

     

includes multi family

   

permits issued

 

413.7

   

611.9

     
                 

peak year

 

1682

   

2219

     

permits % drop from peak

 

75%

   

72%

   

50 year average

 

911

   

1383

     

permits % drop from 50 year

 

55%

   

56%

   
                 

movement up from Bottom

353

17%

 

522

17%

   
                 
 

housing started

     

starts total

     
 

one unit structure

     

includes multi family

   

starts

 

428.6

   

606.9

     
                 

peak year

 

1611

   

2357

     

starts % drop from peak

 

73%

   

74%

   

50 year average

 

1056

   

1481

     

starts % drop from 50 year

 

59%

   

59%

   
                 

movement up from Bottom

360

19%

 

520

17%

   
                 
                 
 

housing sales

             
 

one unit structure

             

new single family sales

302

           
                 

peak year July 2005

 

1283

           

sales % drop from peak

 

76%

         

48 year average from 1963

628

           

sales % drop from 48 year average

 

52%

         

Bottom August 2010

             

movement up from Bottom

278

9%

         

Comments (1)

David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

I know here in Connecticut it is virtually impossible to get a construction loan, even for a renovation so if the banks will not lend for impovements or new homes then how can there be more building. 

Jan 30, 2012 12:28 AM