New Residential Construction Report: February 2012

Today’s New Residential Construction Report showed mixed results in February with single family permits increasing from January while starts declined over the same period.

Single family housing permits, the most leading of indicators, increased a whopping 4.9% from last month to 472K single family units (SAAR), and increased 23.6% above the level seen in February 2011 but remaining an astonishing 73.75% below the peak in September 2005.

Single family housing starts plunged 9.86% to 457K units (SAAR), but climbed 17.78% above the level seen in February 2011 and remaining a stunning 74.93% below the peak set in early 2006.

With the substantial headwinds of elevated unemployment, epic levels of foreclosure and delinquency, mounting bankruptcies, contracting consumer credit, and falling real wages, an overhang of inventory and still falling home prices, the environment for “organic” home sales remains weak and likely very fragile.

New Residential Construction Report: January 2012

Today’s New Residential Construction Report showed mixed results in January with single family permits increased from November while starts declined over the same period.

Single family housing permits, the most leading of indicators, increased 0.9% from last month to 445K single family units (SAAR), and increased 6.2% above the level seen in January 2011 but remaining an astonishing 75.25% below the peak in September 2005.

Single family housing starts declined 1.0% to 508K units (SAAR), and climbed 16.2% above the level seen in January 2011 but remaining a stunning 72.13% below the peak set in early 2006.

With the substantial headwinds of elevated unemployment, epic levels of foreclosure and delinquency, mounting bankruptcies, contracting consumer credit, and falling real wages, an overhang of inventory and still falling home prices, the environment for “organic” home sales remains weak and likely very fragile.

New Residential Construction Report: December 2011

Today’s New Residential Construction Report showed that in December, both single family permits and starts increased from November with permits continuing to show tepid results when compared on a year-over-year basis while starts improved notably over the same period.

Single family housing permits, the most leading of indicators, increased 1.8% from last month to 444K single family units (SAAR), but declined 0.22% below the level seen in December 2010 and remaining an astonishing 75.31% below the peak in September 2005.

Single family housing starts increased 4.44% to 470K units (SAAR), and climbed 11.64% above the level seen in December 2010 but remaining a stunning 74.22% below the peak set in early 2006.

With the substantial headwinds of elevated unemployment, epic levels of foreclosure and delinquency, mounting bankruptcies, contracting consumer credit, and falling real wages, an overhang of inventory and still falling home prices, the environment for “organic” home sales remains weak and likely very fragile.