Archive for the 'economy' Category

Housing Starts Hit Pre-Recession Levels

Wednesday, May 20th, 2015

Nationally, US home building hit the highest level since November 2007. US Commerce Department said housing starts rose 20.2% in April from the prior month to a seasonally adjusted 1.135 million. This is the greatest percentage increase since February 1991. The issuance of new building permits which gives insight to future construction is up 10%.

 

Housing starts rose 16.7% on single-family units, which represent two-thirds of the market. This shows a wide base to this expanse and the most since January 2008.

 

Condos, Co-Ops and multifamily units are up 27.2%. This is good news for the overall US Economy as construction of homes creates jobs for contractors, electricians, plumbers, masons, pool contractors, landscapers, decorators, furniture, and much more! 

 

 

Judi A. Desiderio, Chief Executive Officer

JD@1TownandCountry.com                     

631.324.8080 ext. 221