Nationally, US home building hit the highest level since November 2007. US Commerce Department said housing starts rose 20.2% in April from the prior month to a seasonally adjusted 1.135 million. This is the greatest percentage increase since February 1991. The issuance of new building permits which gives insight to future construction is up 10%.
Housing starts rose 16.7% on single-family units, which represent two-thirds of the market. This shows a wide base to this expanse and the most since January 2008.
Condos, Co-Ops and multifamily units are up 27.2%. This is good news for the overall US Economy as construction of homes creates jobs for contractors, electricians, plumbers, masons, pool contractors, landscapers, decorators, furniture, and much more!
