Construction up in September
Construction permits for single family housing jumped 6.7 percent from August 2012. Despite the increase, construction remains 69.7 percent below the peak reached in September 2005.
Today’s New Residential Construction Report showed notable gains in September with single family permits increasing significantly from August while starts also increased over the same period.
Single family housing permits, the most leading of indicators, jumped 6.7% from August to 545K single family units (SAAR), and increased 27.3% above the level seen in September 2011 but still remained an astonishing 69.7% below the peak in September 2005.
Single family housing starts increased 11% from August to 603K units (SAAR), and climbed 42.9% above the level seen in September 2011 but still remained 66.9% below the peak set in early 2006.
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