Housing Starts Edge Up Two Percent In March

By  //  April 19, 2015

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Single-family housing starts rose 4.4 percent

Nationwide housing starts rose 2 percent in March from an upwardly revised February reading, according to newly released data from the U.S. Commerce Department.

Nationwide housing starts rose 2 percent in March from an upwardly revised February reading, according to newly released data from the U.S. Commerce Department.

BREVARD COUNTY, FLORIDA – Nationwide housing starts rose 2 percent in March from an upwardly revised February reading, according to newly released data from the U.S. Commerce Department.

REMAX-ELITE-250-1Single-family housing starts rose 4.4 percent in seasonally adjusted annual rates, while multifamily starts, which tend to be volatile, dropped 2.5 percent.

During the downturn, building codes changed and today’s homebuyers benefit from not just the newest fixtures and modern layouts but today’s homes are built nearly 50 percent more energy efficient than homes built 2006 and 2007″ says Porter.

Elizabeth Porter

Elizabeth Porter

“Adams Homes continues to see strong month over month new home sales increases. With mortgage interest rates at record lows, homebuyer purchasing power is at an all-time high” according to Elizabeth Porter, East Coast Regional Manager for Adams Homes, who also said: “Our primary market is first-time buyer and first-time move-up families.

Locally, Adams Homes has been serving home buyers in the Melbourne – Palm Bay area since 2001 and has built more than 1,000 new homes in the area.

Tom Woods

Tom Woods

“Today’s reading demonstrates that the housing industry continues to make gains at a gradual pace,” says National Association of Home Builders (NAHB) Chairman Tom Woods.

While housing start numbers remained subdued, however, builders’ outlooks improved noticeably for the month.

The National Association of Home Builders/Wells Fargo builder sentiment index released yesterday rose four points to 56.

David Crowe

David Crowe

“Builders are being careful not to add inventory beyond expected demand, especially as they struggle with increasing costs for lots, labor and materials,” adds NAHB Chief Economist David Crowe.

“However, pent-up demand, low mortgage interest rates and a growing economy should keep the housing industry moving forward throughout the rest of the year.”

Any score about 50 indicates that builders generally view conditions favorably. In the survey, both expected buyer traffic and sales improved.

New Home Sales Up 35 Percent In JanuaryRelated Story:
New Home Sales Up 35 Percent In January

Regionally, combined single- and multifamily starts increased the Northeast and Midwest, with respective gains of 114.9 percent and 31.3 percent.

Housing production dropped 3.5 percent in the South and 19.3 percent in the West.

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ABOUT THE AUTHOR

Bobby Freeman

Bobby Freeman, a life-time resident of Brevard County, has been a top Realtor in the area for two decades. In his first year as an agent, Freeman received a Rising Star award from his Brokers. Since then he has achieved numerous sales awards and has recently been presented with the prestigious RE/MAX Hall of Fame Award.

Freeman, Jennifer McCoy and Nikki McCoy Freeman are family partners for RE/MAX Elite’s McCoy-Freeman Group. Together they have more than 30 years of extensive experience in all aspects of the real estate industry and have sold over $200 million.

Among McCoy-Freeman Group’s achievement are RE/MAX Hall of Fame, RE/MAX 100% Club, Certified Distressed Property Experts (CDPE), Accredited Buyer’s Representative (ABR) and voted Best Realtor in Brevard County.

The group has been featured in many news publications including CNN Money Magazine, CNNMoney.com, WFTV 9 ABC News, Coastal Condo Living, & Hot Retirement Towns Magazine and SpaceCoastDaily.com.

For more information log on to BrevardRealtyConnection.com

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