The headlines blare building permits are the highest in five years. Housing building permits come from the Census issued Residential construction report and for October building permits increased 6.9%. While that sounds great and good, it is not an indicator the residential real estate sector is red hot again as some in the press proclaim.
The November 2012 Residential construction report showed housing starts decreased, -3.0%, from October. Both October and September was revised downward. October was revised from 894,000 housing starts to 888,000. September was revised down by 20,000, from 863,000 to 843,000.
The October 2012 Residential construction report showed Housing starts increased, 3.6%, from September's revised 863,000, to a level of 894,000 Housing starts have increased +41.9% from a year ago, outside the ±15.9% margin of error. For the month, single family housing starts decreased -0.2%.
The September 2012 Residential construction report showed Housing starts increased 15.0%, and from a year ago have soared 34.8%. September's housing start annualized levels were 872 thousand, whereas August's housing starts tallied to 758,000. In August, housing starts increased by a revised 4.1%.
The July 2012 Residential construction report showed Housing starts decreased, -1.1%, from June's revised 754,000, to a level of 746,000. In June, housing starts increased by a revised +6.8%. Housing starts have increased +21.5% from a year ago, outside the ±14.2% margin of error. For the month, single family housing starts decreased -6.5%.
The March 2012 Residential construction report showed Housing starts decreased, -5.8%, from February's revised 694,000, to a level of 654,000. Housing starts have increased 10.3% from a year ago. Single family housing starts declined -0.2%. The -5.8% drop was due to apartments, 5 units or more of one building structure, which decreased -19.8% in one month.
The January 2012 Residential construction report showed Housing starts increased 1.5% from December's revised 689,000, to a level of 699,000. December housing starts were revised significantly, from 657,000 to 689,000. January 2012 is now 9.9% above January 2011's 636,000 housing starts. Housing starts increase was due to apartments, 5 units or more of one building structure, which increased 14.4% in one month.
The December 2011 Residential construction report showed Housing starts dropped -4.1% from November's revised 685,000, to a level of 657,000. This is +24.9% above December 2010, or 526,000 housing starts. Housing starts decline was due to apartments, 5 units or more of one building structure, which dropped -27.8% in one month.
The November 2011 Residential construction report showed Housing starts surged 9.3% from October's revised 627,000, to a level of 685 000. This is +24.3% above November 2010, or 551,000 housing starts. The surge was due to apartments, 5 units or more, of one building structure.
The October 2011 Residential construction report showed Housing starts decreased -0.3% from September, to a level of 628,000. This is +16.5% above October 2010, or 539,000 housing starts. New Residential Construction has a margin of error often above the monthly percentage increases, so take these monthly changes with a grain of salt.
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