Housing Recovery Officially in Full Swing
If you heard that housing starts increased 12% from November to December 2012, you would probably think that it sounds like good news. If you learned that housing starts increased almost 37% from a year ago, you may stop to think, just how significant are those numbers? The national 2012 year over increase shows that newly constructed homes totaled 954,000; a hefty increase from the previous year, which only recorded 697,000. Not only are new houses being built for current and future home buyers, but they are also being completed at a much higher rate. About 80,000 more homes were completed in the last year compared to 2011. A contributor to these upticks includes the authorization of building permits, which are also up close to 200,000 units from the previous year. So what..? Clearly the housing starts are indicative of real estate market that is showing impressive signs of growth. These home starts show that builder confidence is at a peak and...