Crampton Inspection Service

Real Estate Services

  • Home
  • About
    • About Us
    • Privacy Policy
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Pricing 101
  • Blog
  • Visit Our Website
  • Contact

Building Permits Rise In All 4 Regions

April 20, 2011 by Crampton Inspection Service Leave a Comment

Housing Starts (Apr 2009 - Mar 2011)According to the Census Bureau, seasonally-adjusted, single-family Housing Starts rebounded in March, increasing 8 percent over February’s 2-year low.

We can’t put too much faith in the data, however, because for the second straight month, the government reports that the data’s margin of error — 15 percent — exceeds its actual measurement.

As written in the footnotes, there’s no “statistical evidence to conclude that the actual change [in Housing Starts] is different from zero.”

In other words, single-family Housing Starts may have dropped up to 7 percent last month, or may have increased by as much as 22 percent. We won’t know for certain until several months from now. As the Census Bureau gathers more data, it will revise its initial monthly findings.

Such adjustments are common. February’s starts were revised higher by 4.5%, for example.

Also included in the Census Bureau’s report is the March 2011 Building Permits tally. As compared to February, permits were higher by 6 percent nationwide. This is a noteworthy development because permits-issued is an excellent forward-predictor for housing.

When permits are issued, 86 percent of them will start construction within 60 days. This means that new home sales and housing stock should follow the Building Permits report trend, but on a 2-month delay.

Permits were strong in all 4 regions last month:

  • Northeast : +2.6 percent from February
  • Midwest : +10.0 percent from February
  • South : +5.3 percent from February
  • West : +5.3 percent from February

With Building Permits rising, we can infer that the housing market is improving.

Therefore, if you’re currently looking for new construction, consider that the market may be less favorable for buyers 4-6 months from now than it is today. Especially because homebuilders are already projecting higher sales volume.

The better time to buy new construction — relative — may be now.

Filed Under: Housing Analysis Tagged With: Building Permits,Housing Starts,Census Bureau

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Logo

Contact Us


Crampton Inspection Service

P.O. Box 6043
Moraga, CA 94570
Phone: 925-376-7707
Email: john@your-home-inspector.com
CALL (925) 376-7707

How can we help?

  • This field is for validation purposes and should be left unchanged.

Connect with Us



max-width: 80px;

Recent Articles

  • What’s Ahead For Mortgage Rates This Week – March 20, 2023
  • How to Get Along With Your Homeowners Association
  • Manage These 3 Items Before Applying For A Mortgage
  • Short-Term Vacation Rentals: What To Know
  • What To Know About Property Lines
Certified with California Real Estate Inspection Association (CREIA) and American Society of Home Inspectors (ASHI)

Looking For Something?

Our Location

P.O. Box 6043
Moraga, CA 94570

Copyright © 2023 · Powered by MySMARTblog