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:

LEAVE A COMMENT

Our Partners:

SPY186.125  chart+1.925  chart +1.05%
GOOG556.54  chart+20.10  chart +3.75%
AAPL519.01  chart+1.0501  chart +0.20%
TSLA199.11  chart+5.20  chart +2.68%
BBRY7.15  chart-0.06  chart -0.83%
NFLX331.41  chart+5.14  chart +1.58%
FB59.72  chart+0.63  chart +1.07%

DJIA Fut0.00  chartN/A  chartN/A
Nasdaq Fut0.00  chartN/A  chartN/A
S&P Fut0.00  chartN/A  chartN/A
Oil Fut0.00  chartN/A  chartN/A
Gold Fut0.00  chartN/A  chartN/A

Nikkei14387.91  chart-29.77  chart -0.21%
Shanghai2105.281  chart+0.159  chart +0.01%
UK6584.17  chart+42.56  chart +0.65%
France4405.66  chart+60.31  chart +1.37%
Germany9317.82  chart+144.11  chart +1.57%