In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s second update discusses housing starts.
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses housing starts.
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s second update discusses housing starts.
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses the latest housing starts data.
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses housing starts.
- Housing starts reached an 894,000 annualized unit pace in October, which is the highest in over 4 years, and up 42 percent from one year ago.
- Even with this huge gain, further increases are needed. The 50-year historical average is 1.5 million per year. Now that the household formation is bouncing back and reaching about a million, housing starts need to be at least 1.3 million just to keep the overall vacancy rates stable after accounting for 300,000 or so uninhabitable units that are demolished each year.
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