Source: Chris Woods, SWBC Mortgage Corporation
Following their 12-year high in August, Housing Starts took a break in September, off 9.4%, but at a still decent 1.256 million annual rate. The dip was all from multi-families–single-family starts were up for the fourth month in a row.
Since bottoming in February, single-family starts have trended upward, and are now near new highs. No wonder October’s National Association of Home Builders sentiment index hit its best read in 20 months.
Freddie Mac’s chief economist noted, “economic trends like employment and homebuilder sentiment are encouraging,” observing “the housing market remains on the upswing.”
