Overall housing supply dropped 11% last month, but according to the Census Bureau’s latest construction numbers, builders are finally stepping in to help
.
According to Danushka Nanayakkara-Skillington, assistant vice president of forecasting and analysis at the National Association of Home Builders, this is a “useful indicator of future construction activity” and falls in line with recent builder sentiments. The last three NAHB/Wells Fargo Housing Market Indices show builder confidence at its highest point since late 2017.
Overall January starts were up 21.4% over the year, while completions jumped 1.5% for the same period. According to NAHB, the three-month moving average for single-family starts is now at its highest pace since the Recession.“Builders broke ground in January with vigor,” Lewis says. “Housing starts were much higher compared to a year earlier, which is a sign that housing shortages could ease in some markets when those homes are completed.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus threatens Apple supply chain, sales; shares dropShares of Apple Inc fell 2 % on Tuesday and dragged the stocks of its suppliers ...
Read more »
Apple says worldwide iPhone supply will be 'temporarily constrained' due to coronavirusApple said Monday that its worldwide iPhone supply will be 'temporarily constrained' due to the novel coronavirus outbreak. The announcement comes as China's National Health Commission said there were 70,548 reports of confirmed coronavirus cases and 1,770 deaths on the Chinese mainland
Read more »
Hormel joins Tyson Foods, JBS in removing drug banned by China from hog supplySpam-maker Hormel Foods Corp is eliminating a growth drug banned by China from i...
Read more »
Department of Justice’s Antitrust Chief; Amazon Seller Supply Chains; Pardoning Day by Squawk Pod
Read more »
Oil rises on supply worries, while virus-led demand concerns easeOil prices rose nearly 1% on Thursday, extending big gains from a day earlier, a...
Read more »
Coronavirus outbreak in China spurs supply chain shifts that began during trade warThe China's Council for the Promotion of International Trade have issued 1,615 force majeure slips to help companies avoid penalties for not being able to meet contractual obligations amid the COVID-19 outbreak.
Read more »