Housing Data Continues On Positive Track Despite Slow Activity

According to the U.S. Census Bureau, Last month’s housing index decreased showing a 16% drop in home construction, while the National Association of Home Builders released data showing that builder confidence has also fallen. Supply and demand continue on a positive track according to certain experts. Sterne Agee chief economist, Lindsey Piegza said, “the decline was pretty evenly divided with single family starts down 15.9% from 681k to 573k, while multifamily starts fell 16.3% from 367k to 307k in January. On an annual basis, starts are off 7% for single family but remain in the black for multifamily units up 8.1%. Housing permits fell 5.4% in January from 991k to a 937k unit pace, up 2.4% on an annual basis. On a three-month average, permits slipped from 1016k to 982k.” More here

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