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

SPY199.27  chart+4.81  chart +2.47%
GOOG637.61  chart+8.99  chart +1.43%
AAPL112.92  chart+3.23  chart +2.94%
TSLA242.99  chart+18.15  chart +8.07%
TWTR26.46  chart+1.43  chart +5.71%
BBRY7.19  chart+0.40  chart +5.89%
NFLX117.66  chart+7.53  chart +6.84%
FB89.73  chart+2.54  chart +2.91%

Nikkei19136.32  chart+561.88  chart +3.03%
UK6212.52  chart+20.49  chart +0.33%
France4658.36  chart+0.18  chart +0.00%
Germany10316.55  chart+0.93  chart +0.01%

EUR / USD1.1288  chart+0.0042  chart +0.37%
GBP / USD1.5427  chart+0.0020  chart +0.13%
CAD / USD0.7577  chart+0.0005  chart +0.07%
AUD / USD0.7175  chart+0.0007  chart +0.10%

Gold Fut1129.60  chart+7.20  chart +0.64%
Oil Fut40.94  chart-0.20  chart -0.49%