The Home Buyer's Korner

Information presented should be used for educational purposes only.

August 24th, 2015

Guy looking up in color

New Home Starts & Permits for July 2015

New Home Sales

Housing starts rose less than expected in July, but still climbed to their  highest rate in nearly eight years, according to the Census Bureau.

Starts increased 0.2 percent at an annual rate of 1.21 million, the highest level since October 2007.

Building permits fell much more than expected at 16.3 percent, at an annual rate of 1.12 million. 

Single family housing starts increased 12.90 percent month-over-month, while multi-family unit starts fell 16.30 percent. 

Economists had estimated that housing starts would increase 1 percent at an annualized pace of 1.186 million in July, and that permits would fall 8.0 percent at an annualized pace of 1.23 million. Building permits were likely to decline following the expiration of New York City tax incentive that increased the number in June. 

Building Permits

After 3 months of exploding building permits – driven almost exclusively by the Northeast region (due to expiration of property tax breaks in NYC) – reality bit in July as permits plunged 16.3% to the lowest since March. This was the biggest miss on record for permits.

Housing Starts rose less than expected, but thanks to a dramatic upward revision at around 1.21 million units on seasonally-adjusted annual rate (driven by a rise in single-family units trumping multi-family units) the new homes market appear to remain stable. However, this won’t be sustainable if new home sales don’t rise over the next few months.

HOME OWNERSHIP TOOLS

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision-making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen, you will have the option

to “Create A Printable PDF of the Presentation”.

HOME OWNERSHIP TOOLS

JOIN OUR REAL ESTATE SOCIAL MEDIA NETWORK

The Home Buyer's Korner

Real Estate Marketing Blogs and Coaching

Mortgage Lenders Social Media Marketing Blogs

General Contractors Renovation Network

LINKEDIN

Twitter

PINTEREST

Facebook Group 2

The Home Buyer's Korner Fan page

Facebook Fan Page Honolulu

Join us at Real Estate Social

Comments are closed.