Home Construction Hits Yet Another Low

By Oct 19, 2010, 10:57 PM Author's Blog  

Housing starts and permits usually dominate the headlines on residential construction data day. In September, for example, single-family starts increased a healthy 4.4% (total starts increased 0.3%), and single-family permits rose 0.5% (but total permits declined 5.6%).

Those are certainly important measures, but I also like to look at a third measure of residential activity in the report: the number of single-family houses under construction.

That measure suggests that the housing market has continued to deteriorate in recent months:

Home Construction Hits Yet Another Low

The number of single-family homes under construction at the end of September fell to just 269,000, down about 14% from a year ago. I had once hoped that the housing market was putting in a bottom, with homes under construction plateauing at about 300,000. But we’ve now witnessed five straight months of declines.

  • SHARE:
  • Share on StockTwits

LEAVE A COMMENT

SPY209.85  chart+1.90  chart +0.91%
GOOG535.38  chart+11.33  chart +2.16%
AAPL127.60  chart+2.85  chart +2.28%
TSLA205.27  chart-1.52  chart -0.74%
TWTR51.40  chart+0.74  chart +1.46%
BBRY10.01  chart+0.12  chart +1.21%
NFLX567.39  chart-4.16  chart -0.73%
FB83.09  chart+2.31  chart +2.86%

Nikkei19811.89  chart+177.40  chart +0.90%
UK7052.13  chart-8.32  chart -0.12%
France5187.59  chart+44.33  chart +0.86%
Germany11891.91  chart+203.21  chart +1.74%

EUR / USD1.0727  chart-0.0013  chart -0.12%
GBP / USD1.4886  chart-0.0018  chart -0.12%
CAD / USD0.8157  chart-0.0020  chart -0.24%
AUD / USD0.7691  chart-0.0036  chart -0.47%