More Positive Signs For Homebuilders And Owners
Building upon a slew of stellar housing data points reported over the last month, data released this week measuring groundbreaking for new home construction boasted yet another multi-year high. The annual pace of both housing starts and building permits increased impressively and were buoyed by increased activity in the single-family home segment. The focus of demand in the single-family segment implies to me that a healthy increase in prospective home buyers (versus renting) is resulting from a lengthening period of an American economy operating at or near full employment. Furthermore, it’s more good news for homebuilders and homeowners.