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Archive for July, 2009

MORE GOOD NEWS!

Friday, July 17th, 2009
Housing starts rise again  

 

(Jul. 17) Housing starts are on a roll, sort of. Up 14.4% for single family homes. Government statistics released Friday morning show total starts in June increased to a seasonally adjusted annual rate of 582,000.

The 582,000 estimate is a 3.6% increase over the revised May figure of 562,000. Still, total starts are down 46% from the June 2008 figure of 1.078 million.

Single-family housing starts in June also showed a much-welcome double-digit surge of 14.4% to a SAAR of 470,000. The upwardly revised figure from last month was 411,000. June marked the fourth straight month of single-family increases. Single-family starts are down 28.2%, however, from June 2008.

On a regional basis, single-family starts showed growth in all four geographic regions. The total starts showed a month-to-month increase in the Northeast of 28.6%.

The forward-looking indicator of building permits came in at a rate of 563,000, an increase of 8.7% over the May rate.

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Residential Remodeling Recovering

Wednesday, July 15th, 2009

The residential remodeling market showed signs of improvement during the first quarter of 2009 with significant growth in all key indicators, according to the latest National Association of Home Builders’ Remodeling Market Index (RMI). According to the Washington, DC-based NAHB, the current market conditions measure on the RMI rose to 34.5 from 25.5 in the fourth quarter of 2008. Future expectations jumped to 30 from a historic low of 18.6 the previous quarter. “Remodelers say things are looking up from the doldrums of the fourth quarter,” said NAHB Chief Economist David Crowe. “While conditions remain below average and are down slightly from this time last year, the gains over the last quarter, and improvement in market expectations suggest a spark to the start of recovery in the remodeling market.” 

What does this mean to you? Now may be the time to act on putting in those new windows or that new kitchen. Build that deck or upgrade a living space. Green upgrades are also hot. Contractors are able to work with you so your projects can be done in time to enjoy them before the end of the summer.

Check with Shelly’s first for material needs and contractor referrals to put your project in motion.

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