Yes, but it's a minor spike, this is not 2007 again.
Home building spiked up in November to the strongest level in almost two years, as record-low mortgage rates and a surge in apartment and condo construction lifted activity.
Housing starts shot up to an annual rate of 685,000 in the month, up 9.3% from October and 24.3% higher than a year earlier. Building activity easily topped predictions of 627,000 starts economists surveyed by Briefing.com were expecting.
Building permits, a closely-watched reading that is less affected by weather than actual starts, also shot up, rising 5.7% from October and 20.7% from the year before to 681,000 homes annually.
"By historical standards, homebuilding activity is still very depressed, but at least it appears to be on an established upward trend," said Paul Diggle, property economist at Capital Economics.
Read it all
The purpose of this discussion gives an overview of some of the myths and realities of estate planning.
ReplyDeleteProperty Association Management
Home building has a huge role in pushing the housing market up as well. When it increases, it also lets the housing market push up and get better in terms of rates. This is a perfect sign that the housing market is booming again and having recovery stages.south carolina real estate continuing education
ReplyDeleteIf you are a seller that is considering short selling your home, find out more information by visiting Short Sale Information and Assistance.By
ReplyDeleteLos Angeles Real Estate Listings