Pull Back in Housing Starts but Rise in Permit Activity

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.

Read More

Previous Slight Slowdown in Sales but Continued Stability in California Housing Market
Next Housing Market in Period of Normalcy

About author

Steve Devorak
Steve Devorak 152 posts

Steve Devorak is a former Director of Land Acquisition and Project Manager with extensive experience in the Southern California land market.

View all posts by this author →

You might also like

Housing Market 0 Comments

The Case Against August’s New Home Sales Data

While the census bureau reported an 18% increase in new home sales month-over-month from July to August, not everybody is convinced of the accuracy of the data and how it

Housing Market

Home Ownership Wanes in California

Our state’s housing crisis increases homelessness, costs people jobs and lengthens commutes, all serious problems. On the most basic level, though, what the shortage of affordable housing does is deny