Bad News For Builders?

Hi Folks,
   Hope your week has been amazing, if not productive, thus far.

   The time has come again for the all-important New Residential Construction numbers for February 2011, and we'd like to examine those with you today. As always, we open the floor for your comments, as well.

   Now, as you may already know, when we discuss, "New Residential Construction", this is actually composed of 3 parts: Building Permits, Housing Starts, and Housing Completions, which is quite intuitive as a flow chart from start to finish.

   From a top-level analysis, everything took a beating, both over the short term (January 2011 through February 2011) and also over the longer term (February 2010 through February 2011). The only exception to this was Housing Completions in the Short term for both Single-family housing completions and Privately-owned housing completions.

   The biggest loser in the short term was Privately-owned housing starts (22.5% below January 2011), with the biggest loser in the longer term checking in as Privately-owned housing starts (20.8% below February 2010).

   Jim Olenbush, a Broker/Realtor in Texas, says that, "Today's numbers may be bad news for home builders, but it is good news for the resale market.", since, as he says, "We have too much inventory in most areas, so a decline in building is a necessary step to recovery."

   What are your thoughts on these housing numbers?

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

Numbers, Numbers, and More Housing Numbers

Hi Everyone,


   It is Friday, and believe it or not, we are just one week away from Christmas, and two weeks from the start of a New Years. It's always an exciting time, since good change is on the way !

   As always, the wheels of our Government are grinding away, and the good folks monitoring the housing market have provided us with some new numbers for New Residential Construction, of which will take a quick look at today.

   As we know from the previous release of these numbers, and as noted in this blog, "New Residential Construction" is broken down into Building Permits, Housing Starts, and Housing Completions. Building Permits were mixed. Housing Starts were up for one segment since the last release, however, down from the same time last year. Finally, the biggest numbers came from the Housing Completions portion, or should I say, "lack of" Housing Completions, with privately-owned completions falling over 14% from October, and close to 40% from last year. That is one heck of a tumble !

   Next week, there are 4 more indicators being released, which are the Loan Performance Housing Price Index (Tue 12/21), NAR Existing Home Sales (Wed 12/22), FHFA Monthly House Price Index (Wed 12/22), and New Residential Sales (Thu 12/23), all of which will be make for a very interesting week.

   We aim to please !

Have a Great Weekend, and Happy Rent-to-Owning !
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com