Hope you're having a productive and peaceful week. I come to you with some good housing news today!
For the 12 months spanning July 2010 through July 2010, the 3 components of the New Residential Construction Housing statistics all showed an increase.
From July 2010 through July 2011, Privately-owned housing units authorized by building permits jumped 3.8%, Privately-owned housing starts jumped 9.8%, and Privately-owned housing completions rose 9.5%, per the U.S. Census Bureau and the Department of Housing and Urban Development.
What does this mean?
This paints an overall picture of increased real estate activity from the same period a year ago. My opinion - this is a good thing. However, we are still sitting on a large inventory of existing homes, with a large percentage of that inventory as foreclosure/short sale properties. To gain a better assessment on that very important piece of the market, we will have to see what the National Association of Realtors (NAR) posts for their Existing Home Sales Index for July (due out Thursday Morning).
Please Stay Tuned !
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Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com
TAGS: #residentialconstruction #buildingpermits #housingstarts #housingcompletions #realestate #foreclosure #shortsale
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