Housing Economics - 12/22/2011 (Plain Text Version)

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In this issue:
New-Home Production Rises 9.3 Percent in November
Preview of The National Outlook
Housing Market Statistics
The Geography of Home Size and Occupancy

New-Home Production Rises 9.3 Percent in November

Production of new single-family homes and apartments rose 9.3 percent to a seasonally adjusted annual rate of 685,000 units in November

Housing Starts and Building Permits for November 2011

DATE

CURRENT

LAST

% Change

Download Starts and Permits

Starts

12/20/2011

685Th

627Th

9.3%

Permits

12/20/2011

681Th

644Th

5.7%

Production of new single-family homes and apartments rose 9.3 percent to a seasonally adjusted annual rate of 685,000 units in November, according to figures released by the U.S. Commerce Department today. This marks the fastest pace of housing starts since October of 2008.

“While we still have a long way to go back to normal, the latest numbers are one more indication that housing is slowly turning the corner,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “In scattered markets across the country, buyers who have long sat on the sidelines are starting to take advantage of today’s very attractive prices and interest rates, while others are making the move to a new apartment. This nascent trend would be stronger if not for the very restrictive lending environment that continues for both building and buying new homes.” Full story

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