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

SPY198.92  chart+0.53  chart +0.27%
GOOG584.49  chart-2.37  chart -0.40%
AAPL100.57  chart+0.04  chart +0.04%
TSLA255.71  chart-1.05  chart -0.41%
BBRY10.16  chart+0.31  chart +3.15%
NFLX472.19  chart+4.04  chart +0.86%
FB74.81  chart-0.48  chart -0.64%

Nikkei15588.39  chart+133.939  chart +0.87%
Shanghai2229.242  chart-10.969  chart -0.49%
UK6755.48  chart-23.83  chart -0.35%
France4240.79  chart-13.66  chart -0.32%
Germany9314.57  chart-19.71  chart -0.21%