Over the year, housing starts had their best showing since 2007, advancing 10.8 percent, 1.1 million, although 34.6 percent were multifamily, as compared to 20.5 percent multifamily in 2007. The multifamily starts reflect the decline in home ownership, from 69.2 percent in 2000 to the current level of 63.7 percent.
Meanwhile, the Commerce Department informs MHProNews that Dec. building permits dropped 2.9 percent to a SAAR of 1.23 million, but on the year are up 12 percent. Housing starts fell in the Midwest, South and West, but rose 24.7 percent from Nov. to Dec. in the Northeast, likely due to the warmer weather.
As MHProNews reported Jan. 21, 2016, the NAHB home builder sentiment index remained at 60 in Jan., the same as Dec., 2015. Any number above 50 indicates conditions are good. ##
(Image credit: City of San Jose, Calif. form)
