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Wednesday, December 16 2009

Home building rose 8.9 percent in November to an annualized rate of 574,000, the U.S. Commerce Department announced Wednesday.

The rate was still 12.4 percent below what it was in November 2008, but the increases were nationwide, with the Northeast leading the trend with housing starts rising 16.4 percent. Housing starts rose 12.3 percent in the South, 3 percent in the Midwest and 1.9 percent in the West.

Analysts attributed the increase to the extension and expansion of the home buyer’s tax credit. David Crowe, chief economist at the National Association of Home Builders, is cautiously optimistic. “The new credit will have an impact as we move into 2010 and consumers plan for that credit availability, and builders begin to answer expected demand in the spring," he says.

Source: CNNMoney.com, Hibah Yousuf (12/16/2009)

http://www.realtor.org/RMODaily.nsf/pages/News2009121603?OpenDocument

Posted by: Rolando Trentini AT 07:02 pm   |  Permalink   |  0 Comments  |  Email
Thursday, September 17 2009
Housing starts rose 1.5 percent in August to an annualized rate of 598,000, led by a 25 percent increase in apartment construction, the U.S. Commerce Department announced Thursday.

Single-family starts fell 3 percent to a 479,000 annual rate, the first decline since January. Single-family starts rose 24 percent in the Northeast, 0.9 percent in the Midwest, and fell 2.4 percent in the South. The West was unchanged.

Analysts blamed the expiration of the first-time home buyer tax credit for the decline. “These tax incentives often borrow from future sales and the pickup does not last,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said before the report was announced. “This does not throw the recovery idea into a tailspin, but the housing normalization will come at a slow, measured pace.”
 
Source: Bloomberg, Bob Willis (09/17/2009)  http://www.realtor.org/RMODaily.nsf/pages/News2009091701?OpenDocument
Posted by: Rolando Trentini AT 02:25 pm   |  Permalink   |  0 Comments  |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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