Housing Starts Increased in July

By
Real Estate Agent with Bennett Realty Solutions

According to RISMedia Daily e-News, Nationwide housing starts rose 5.9% to 896,000 units in July. Newly released figures from HUD and the U.S. Census Bureau shows that multifamily construction rebounded from a dip in the previous month. Single-family construction had a modest decline from a rate that was upwardly revised for the previous month.

Single-family housing starts declined 2.2% in June to 591,000 units in July. There was a 26% gain in the multifamily units  305,000 to offset a dip in the previous month.

Regionally, combined housing starts activity posted gains of 40.2% in the Northeast, 25.4% in the Midwest, and 7.2% in the West in July, while the South posted a 7% decline.

Issuance of building permits rose 2.7% to an rate of 943,000 units in July. Single-family permits dipped 1.9% to 613,000 units, while multifamily permits gained 12.6% to 330,000 units.

Regionally, combined permit issuance increased across the board in July, with gains of 1%, 2.8%, 1.1%,and 7.1% in the Northeast, Midwest, South and West, respectively.

For more information, visit www.nahb.org.

 

Pattie Zanders is a realtor with Exit Bennett Realty in Greenbelt, MD, one of the fastest growing brokerage in Prince George's County Maryland. Her expertise is in 1st time homebuyers programs and short sales. She is the local expert for Capitol Heights MD Homes for Sale, Clinton MD Homes for Sale, District Height MD Homes for Sale, Fort Washington MD Homes for Sale, Suitland MD Homes for Sale, Temple Hills MD Homes for Sale, and Upper Marlboro MD Homes for Sale and other metropolitan Washington, DC areas. For a realtor who focuses on customer service and getting results, call today at (301) 919-8858.

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