Volume 14, Issue 4 - May 2013
| Going Up: Housing Starts Rise in March
Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from the Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. The data show that total starts activity rose 7.0 percent for the month due entirely to a 31.1-percent increase on the multifamily side.
New-Home Sales Rise in March
Sales of newly built, single-family homes rose 1.5 percent to a seasonally adjusted annual rate of 417,000 units in March, according to newly released figures from The Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.
The inventory of new homes for sale held virtually unchanged at just 151,000 units in March, which amounts to a 4.4-month supply at the current sales pace.
More Housing Markets Improve in March
The list of improving U.S. housing markets expanded for a seventh consecutive month in March to include 274 metros on the National Association of Home Builders/First American Improving Markets Index. This total amounts to a net gain of 15 markets since February and includes entrants from all 50 states and the District of Columbia.
Construction Employment Increases in 30 States from February to March