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
Six Housing Market Predictions for 2017
If economic indicators are any guide, Orange County’s housing market is heading for a fifth straight year of rising home prices, increased sales, more rent hikes and booming home construction.
Los Angeles Housing Market Continues to Show Strength
Housing prices in greater Los Angeles rose 4.8% from the prior quarter while sales improved by 6.5% with houses staying on the market an average of five days. The median
Why Townhome Development Makes Sense For OC
By Carrie Rossenfeld Townhome price points are more reasonable and affordable than single-family detached developments, are often coming in below FHA loan limits and are therefore more appealing to a
