Strong showings for U.S. starts, permits and sales

NAHB/Robert Dietz
April 10, 2017
By NAHB/Robert Dietz
Aporil 10, 2017 - Tight inventory of existing homes and solid job creation are sustaining growth for home building. New single-family starts increased in February to the fastest annual pace since fall 2007. Permits were also up in February, registering the highest rate in almost 10 years. While unseasonably warm weather accelerated construction activity in some regions, underlying demand conditions remain strong.

Thus far in 2017, rising interest rates have had little impact on the new homes market. In February, new home sales were up 6.1% from the prior month, and 12.8% above the pace set a year earlier. Inventory is also on the rise, increasing to approximately 266,000 as of February. As is typical during periods of tight inventory, the largest increase in new home inventory has been in the not-yet-started category of homes listed for sale.

–NAHB Chief Economist Robert Dietz

Add comment


Security code
Refresh

Subscription Centre

 
New Subscription
 
Already a Subscriber
 
Customer Service
 
View Digital Magazine Renew

Most Popular

Latest Events

BCRB Fall Conference
September 17-19, 2017
CANS AGM
September 29-1, 2017
CCA Fall Board Meeting
October 2-4, 2017
ICUEE 2017
October 3-5, 2017
CTA Fall Board Meeting
October 4-5, 2017
Last Blast Fall Steam-Up
October 14, 2017