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Housing Industry: Housing Permits Reach 4.5 Year High

Housing Industry, Real Estate News, Housing, Home Information


Multifamily permits gained 10.6% of late which also reflected an overall improvement in all housing permits. The most recent records provided by the Commerce Department showed a 3.6% rise in housing permits, the highest recorded jump in the past four and a half years. The National Association of Home Builders (NAHB) were thus quick to react and are now adamant that new home construction will only build upon these recent successes throughout 2013 as well.

Barry Rutenberg, the Chairman of the NAHB regarding the results stated, "Many builders have reported improving conditions in their local housing markets and are increasingly optimistic about the spring buying season, but they are being very careful not to get ahead of demand.

Housing starts even are showing signs of consistency with their readjustment showing more showing a, ...more sustainable level of production, this according to NAHB Chief Economist David Crowe. Overall the housing starts for 2012 have seen a very influential boost of what is projected to finish its year-over-year growth at around 25%. It seems inevitable that this sector of the market for new homes is only going to continue to flourish. With the general shortage of properties available in the market, especially in our Greater Boston Area, a betterment in housing starts and a rise in housing permits all will contribute to yet another wonderful year for the housing industry that can be defined very simply by just one word; success.

More Information: Realtor Mag

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