Orlando Appraisal Blog
Housing construction up 2.8 percent in January!
February 18th, 2010 6:57 AM
Housing construction up 2.8 percent in January
WASHINGTON (AP) – Feb. 17, 2010 – Housing construction posted a better-than-expected increase in January, which pushed activity to the highest level in six months. The solid gain raised hopes that the construction industry is beginning to mount a sustained rebound from its worst slump in decades.
The Commerce Department said Wednesday that construction of new homes and apartments rose 2.8 percent last month to a seasonally adjusted annual rate of 591,000 units. That was better than the 580,000 annual pace that economists were forecasting.
Applications for building permits, considered a good barometer of future activity, fell 4.9 percent to a rate of 621,000, but that was after two months of large increases.
In another sign of strength, Wednesday’s report revised activity upwards in December to show builders were starting construction at an annual pace of 575,000 units during that month, much stronger than the 557,000 originally reported. Even with the upward revision, activity fell a slight 0.7 percent in December, a dip that was blamed on severe weather in many parts of the country that depressed construction activity.
Economists are hoping that housing is beginning to recover and a rebound in this area will help support the economy as it struggles to mount a sustained recovery from the deepest recession since the 1930s.
The strength last month was led by a 10 percent jump in activity in the Northeast and an 8.9 percent increase in the West. Construction was up a smaller 1 percent in the South and 3.2 percent in the Midwest.
The strength in January pushed construction activity up by 21.1 percent from the pace in January 2009. Last month’s building rate was the fastest pace since July.
Construction of single-family homes rose by 1.5 percent to a seasonally adjusted annual rate of 484,000 units while construction of multi-family units increased 9.2 percent to an annual rate of 107,000 units.
The National Association of Home Builders said Tuesday that its housing market index rose by two points to 17 in February after having fallen for two consecutive months.
That increase in sentiment was likely influenced by a number of favorable developments including a report earlier this month that the nation’s unemployment rate fell in January to 9.7 percent – still high, but lower than the 10 percent of the previous month.
In other favorable developments, mortgage rates are hovering around 5 percent, pushed down by a Federal Reserve program to buy mortgage-backed securities. And builders say they are also seeing a boost in the demand for homes coming from a government stimulus program. That program provides tax credits of up to $8,000 for first-time homebuyers and up to $6,500 for current homeowners who decide to move.
Bob Jones, chairman of the home builders, said builders were “slightly more optimistic that the housing recovery is finally beginning to take root.”
Posted by Alex Olmo on February 18th, 2010 6:57 AM
Post a Comment
Subscribe to this blog
Leave a Comment
Characters from the image above:
Subscribe To My Blog
Characters from the image above:
Orlando Florida Appraisals in 2023
an Orlando based real estate appraisal company.
Unacceptable Appraisal Practices - Fannie Mae
Appraisal and Property Related Frequently Asked Questions (FAQs)
Sunbelt Appraisals is a leading appraisals firm with over 10 years of experience in Maitland and surrounding areas
Sunbelt Appraisals is a leading appraisals firm with over 10 years of experience in Orange County and surrounding areas
10 year anniversary for Sunbelt Appraisals
What to Look for in an Orlando Appraiser
Average 30-year mortgage rates top 4%
Baldwin Park Trends
Average 30-year mortgage rate falls to 4.14%
Real Estate Humor
Reasons That May Warrant a Windermere Appraisal to Be Done
Gov. Scott Proposes Budget Plan
Latest Housing Starts Data -2014
Six Ways to Stay Out of Trouble
Approaching Retrospective Appraisals
Pressure Alive and Well: Stearns Lending Sued by Ex-Chief Appraiser
What happens if you wait to refi in 2014?
Bank of America Said to Send Property Reviews to India
Homebuilders struggle to find workers!
UAD "Hard stops" to start 6/22/13
Chelsea Clinton and Husband Marc Mezvinsky List NY Flatiron Condo!
Craig Wilburn: Speed Selling - Orlando Appraisals
Orlando Housing Market Report - March 2013
Olivia Wilde Lists Home for Sale, Buys in New York
How accurate is the Zillow Zestimate
Home-appraisal complaints rise in volatile resale market
CoreLogic: Five States Account for Nearly Half of all Foreclosures
New Home Design: Less is More
Warning: What you are about to read could be career-ending.
Will this comp photo be accetable?
Obama Plan Provides State New Opportunity to Limit Foreclosures
FHA appraisal requirements
Why get out of the car to take the picture of the house I'm selling?
a la mode Releases Inaugural Edition of the National Appraisal Fee Reference(TM), Critical for FHA and RESPA Compliance
Housing construction up 2.8 percent in January!
Maryland Legislation Would Prohibit Appraisers from Knowing Contract Sales Price
Fannie, Freddie Agree to Buy $200 Million in Delinquent Loans
First Exposure Draft of Proposed Changes 2012-2013 USPAP
Hitler's dinner is ruined by AMC & Hitler rants on Appraisal Management Companies
Important FHA notice for all mortgagees
Home prices rising fast, but gains could slow
Orlando Housing Market Report - August 2012
P. Diddy Lists New York Apartment for $8.5 Million
Housing recovery hindered by negative equity
Donna Summer’s Lasting (Real Estate) Legacy
Flawed Appraisals Killing Home Sales, Hampering Housing Recovery!
Inspection and Appraisal
Sunbelt Appraisals on Fox35!
Home prices lowest since 2002
Real Estate Appraisal Principles and Procedures
How to Help Boost Your Appraisal!!
8 ways to boost home appraisal values
8 ways to boost home appraisal values on MSNBC
The U.S. foreclosure crisis, Beverly Hills-style
HAPPY BIRTHDAY SUNBELT APPRAISALS!!
Unskilled Appraisers Seen as Problem
I made sure not to disturb this guy
USPAP changes for 2012
Getting the most value from an appraisal
Orlando Housing Market Report: November 2011
Orlando Housing Market Report - October 2011
Real Estate Appraisal Exterior Inspection
County appraisals don’t follow housing market trends
Being Green Can Help the Value of Your House
You'll Probably Be Surprised By How Square Footage Is Actually Measured!
Preparation is key for a proper appraisal!
Storm Dumped Load of Work on Real Estate Appraiser!
Former appraiser pleads guilty to wire fraud
Builders Advised Not to Hold Back From Giving Relevant Information to Appraisers!
Zillows not always right - The Fuzzy Math of Home Values!
You live where??
Appraisers are so powerful. We control the market!!!
ORRA Housing Report - August 2011!
ORRA Housing Report for July 2011 Housing Report
Intro to UAD: The Uniform Appraisal Dataset
Silly Underwriter Requests
The Forecloser - The Daily Show
Uniform Appraisal Dataset is coming soon!!
Funny Dodd Frank Video!
Check Out the Skinniest House in the World!
Appraisal Institute Warns Appraisers About Liabilities When Working with Some AMCs!
Glut of foreclosures keeps mounting as foreclosure sales decrease!
Fannie Mae's free online UAD tutorial
Why It's Time To Buy!
Now on YouTube - Florida Realtors®!
How many appraisers are there, by state?
Appraisal Institute Warns Appraisers About Liabilities When Working with Some AMCs
Live at Disney??
Finiti is hiring!
Renting Better than Homeownership
5th Anniversary for Sunbelt Appraisals!
Home sales tumble, prices are near 9-year low
The Result of Low Appraisal Fees
Whatever Happened to Quality Assurance in Residential Appraisals: Avoiding Risky Appraisals and Risky Loans
Claim Alert: Three easy steps to reduce your liability
Sunbelt Appraisal's 5th Anniversary!
Fun Florida Facts:
I dont know about you but Ive had worst comparables
Mortgage Snags Ahead as Appraiser Ranks Dwindle!
Appraisers Hurting Housing Market - Video
2010 list of failed banks
Special Report: What's a home worth? Pick a number, any number
Heath Ledger’s Former SoHo Apartment Hits the Market For $5 Million
These Are The 15 Housing Markets That Will Get Crushed The Hardest By 2012
HVCC gone! Now what? - Setting Goals for 2011
Highest and Best Use - Hair Salon or SFR?
As HAMP goes up in smoke, U.S. needs new housing plan!
I want to live in Awesometown!
Foreclosure fiasco frustrates homeowners!
'Joanie' Doesn't Love Foreclosure
Have direct access to your GARAGE from your master bathroom Great selling point
BofA suspends foreclosures in 23 states
USPAP 2012-2013 3rd Exposure Draft issued 9/29/10
Freshly manicured laminate flooring!
New Appraiser Independence Requirements Being Developed by Fannie Mae
Homebuilders' confidence stuck at 18-month low
Appraisal Institute Withdraws as Sponsor of The Appraisal Foundation!
Appraiser interviews AMC rep He makes too much sense
Fannie Mae Announcement SEL-2010-09 - Interior Photographs Required
This unstable real estate market affects everyone
Condos that cost less than cars
Foreclosures up in 75 percent of top U.S. metro areas!!
smallest home in the world
Fives of a kind!! Thats a great hand!!
Home-buying applications sink to 13-year low week
Home-buying applications sink to 13-year low
Renowned Connecticut ‘Round House’ for Sale - $1,750,000
One Tank Garage?
$75M mansion near Orlando selling 'as is'
What's the Most Popular Countertop for Kitchens?
New Home Sales Surge in April
Building codes are for wussies!
Uma Thurman’s Greenwich Village Townhouse Listed for $14.2M
Kanye West Selling Home for $3,995,000
7 Cities With Great Real Estate Deals
Still a long way to go on appraiser reforms
Sunbelt Appraisal at the Corporate 5k presented by IOA
Pending Home Sales Spike in February
You're All Wrong. Blame The APPRAISERS For The Mortgage Crisis
America's Growing Towns - Florida has 4 out of the top ten
Spring Outlook: Housing Sales Are Looking as Bleak as Ever
Top 10 Tech Things To Do Right Now
UCF to offer a Master of Science in real estate program!
Follow AI on Facebook and Twitter for Real-Time News
David H. Stevens details the new RESPA rule and the role of the broker and stabilization in housing
Spice Girl Attacks Appraiser!
HVCC takes another appraiser Rest in peace
Appraisers should consider source of money in comp sales price
October 2012 (1)
September 2012 (2)
July 2012 (1)
May 2012 (4)
April 2012 (1)
March 2012 (4)
February 2012 (1)
January 2012 (4)
December 2011 (11)
November 2011 (2)
October 2011 (2)
September 2011 (2)
August 2011 (5)
July 2011 (3)
June 2011 (3)
May 2011 (3)
April 2011 (2)
March 2011 (3)
February 2011 (2)
January 2011 (4)
December 2010 (3)
November 2010 (6)
October 2010 (5)
September 2010 (5)
August 2010 (5)
July 2010 (8)
June 2010 (4)
May 2010 (4)
April 2010 (4)
March 2010 (8)
February 2010 (15)
Orlando Appraiser (1)
My Favorite Blogs:
Sites That Link to This Blog: