New residential construction increases

In October, both single family permits and starts increased from September , though both measures were tepid when compared on a year-over-year basis.

Today?s New Residential Construction Report showed that in October, both single family permits and starts increased from September with both measures continuing to show tepid results when compared on a year-over-year basis.

Skip to next paragraph SoldAtTheTop

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

Recent posts

Single family housing permits, the most leading of indicators, increased 5.1% from last month to 434K single family units (SAAR), increasing 6.6% above the level seen in October 2010 but remaining an astonishing 75.86% below the peak in September 2005.

Single family housing starts increased 3.9% to 430K units (SAAR), but dropped 0.9% below the level seen in October 2010 and a stunning 76.41% 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.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/SCDgH3T1nIU/New-residential-construction-increases

barbados resorts tiger woods helen mirren the call surrogates surrogates james garner