Sales of newly built, single-family homes rose 2.2 percent to a seasonally adjusted annual rate of 546,000 units in May, according to newly released data from HUD and the U.S. Census Bureau. This is the highest new-home sales rate since February 2008.
Don’t Be Misled by the “Drop” in Housing Starts: Some Markets are Showing Large Increases in Homebuilding
Nationwide housing starts dropped 11.1 percent to a seasonally adjusted annual rate of 1.036 million units in May from an upwardly revised April reading, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Overall permit issuance rose 11.8 percent to a rate of 1.275 million, the highest level since August 2007.
The trend measure of housing starts in Canada was 181,231 units in May compared to 179,524 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
The trend measure of housing starts in Canada was 188,956 units in January compared to 191,627 in December, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
According to CMHC’s first quarter 2015 Housing Market Outlook, Canada Edition, housing starts in 2015 will remain similar to levels observed in 2014 and broadly in line with economic and demographic trends. By 2016, slight moderation is expected.
Markets in 63 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the fourth quarter of 2014, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released today. This represents a year-over-year net gain of 11 markets.
Source: EcoBuilding Pulse Magazine
What makes a house healthy? According to homeowners, recent remodeling is a big factor.
The 2014 Houzz Healthy Home Study conducted in October surveyed 808 homeowners across the U.S. about the overall health of their home. The survey asked participants to consider things like cleanliness, air quality, year built, and chemical exposure to determine whether or not they find their homes healthy versus non-healthy. Overall, survey findings conclude more than 60 percent of homeowners consider their houses healthy. One in five responded saying they consider their homes non-healthy and 6 percent were unsure. Comfort, security, and exposure to germs were listed among the top considerations homeowners make when rating their healthiness of their house.
New Construction Starts in December Pull Back 16 Percent; Annual Total for 2014 Advances 7 Percent to $575.3 Billion
Source: Dodge Data & Analytics
New construction starts in December retreated 16% to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics. The decline follows the 13% increase reported for total construction starts in November, when activity reached its highest level in 2014 with the lift coming from several exceptionally large projects, including a massive lithium ion battery manufacturing plant, an airport terminal redevelopment program, and a liquefied natural gas terminal. Both nonresidential building and nonbuilding construction in December witnessed substantial percentage declines relative to their robust November amounts. At the same time, residential building managed a modest gain in December with the help of further growth by multifamily housing. For 2014 as a whole, total construction starts climbed 7% to $575.3 billion. This continues the pattern of moderate expansion for total construction starts reported during the previous two years – 2012, up 10%; and 2013, up 9%.