Housing Starts Begin to Pick Up in November

Nationwide housing production rose 8.9 percent to a seasonally adjusted annual rate of 574,000 units in November, according to data released today by the U.S. Commerce Department.

Click “read more” to view a detailed breakdown of total housing starts, single-family starts, permits, and homebuilder sentiment.

Total Home Starts November 2009
Seasonally-Adjusted Annual Rate: 574,000 units

One Month Change: Up 8.9% 
One Year Change: Down 12.4% 

Single-Family Starts
Seasonally-Adjusted Annual Rate: 482,000 units

One Month Change: Up 2.1% 
One Year Change: Up 5.5% 

Total Building Permits: 584,000 units

One Month Change: Up 6.0% 
One Year Change: Down 7.3% 

“As we anticipated, this is shaping up to be a bumpy recovery period for the housing market,” noted NAHB Chief Economist David Crowe.

“While some families may be just starting to factor the expanded tax credit into their potential home buying plans, many are hesitating because of the poor economy. At the same time, tight lending conditions for both consumers and home builders continue to pose considerable obstacles on the road to a sustained housing and economic recovery.”

Home Builder Outlook on the Future
Note: A score over 50 means more builders view conditions positively, a score under 50 means more view them negatively.

Overall Builder Confidence: 16
One Month Ago: 17

Sales Over Next Six Months: 26
One Month Ago: 28

Traffic of Prospective Buyers: 13
One Month Ago: 13

Phil Ganz (354 Posts)

Philip D. Ganz is a Boston Mortgage Broker and Boston Home Loan specialist. For information, expertise, consulting, or advice about home loans, refinancing mortgages, or commercial property loans, contact Phil with no obligation: 617-529-9317

Sorry, comments are closed for this post.