According to theCensus Bureau’s report, Housing Starts of single-family homes fell to 417,000 units on a seasonally-adjusted, annual basis. The figure marks a 9 percent drop-off from November, and is the lowest reading since May 2009.
The number of single-family Housing Starts increased in November, adding 30,000 units as compared to October.
Newspaper stories can be misleading sometimes — especially with respect to real estate. We saw a terrific example of this Wednesday.
According to the Commerce Department, the number of single-family Housing Starts increased to 452,000 units in September, a 19,000 improvement over August.
The number of single-family Housing Starts rebounded in August, climbing 4 percent from July’s 14-month low.
Sometimes, you need to look deeper than the headlines to get the news that matters. This basic truth’s latest example comes from the July Housing Starts data, as published by the U.S. Census Bureau.
Single-family Housing Starts eased lower last month, falling by 0.7 percent from May, or 3,000 units nationwide.
Home prices are based on housing’s supply and demand. For the next few months, supply should elevate, helping prices remain suppressed, after which, supply should dwindle. The best time to buy a home, therefore, may be right this very minute.
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