Pull Back in Housing Starts but Rise in Permit Activity
Starts dropped in May by 11% from April and came in at an annualized rate of 1.04 million units. The April starts figure was a seven-year high. Despite the drop, a surge in permit activity points to increased levels of construction in the months ahead. Pulled permits rose to their highest level since August 2007 at an annualized rate of 1.275 million which was a 12% increase from April. The gains were led primarily by a pick-up in activity in the multi-family sector.
About author
You might also like
Are Inland Empire Residents Locked Out of the Housing Market?
By Kelsi Maree Borland Things are bad on the home front for California and the Inland area. New single-family home construction is far below demand, and while new-home prices in
Foreign Investors Pulling Back
There is no doubt that the foreign investor has played an out-sized role in the high-end of the housing market over the past few years, but their willingness to keep
