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U.S. Housing Starts Decline in August, But…

Housing starts took a dip in August; but against the backdrop of a recent surge in construction, this drop appears more like an aberration.

Part of the decline can be attributed to an overactive hurricane season.

According to a government report, residential starts decreased 5.1%, to a 1.42 million from a month earlier,. The decline follows a downwardly 17.9% surge in the prior month. Applications to build, a key indicator in the construction sector, decreased 0.9%, reflecting fewer permits for multifamily housing, following a 17.9% surge in July that was

the largest in 12 years.

Jennifer Lee, senior economist at BMO Capital Markets, said in a note that the unexpected dip in building permits “barely dents the massive increases that were racked up over the past three months.” So, full steam ahead.

Read on at:

Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.

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