BrokerageIndustry News

Housing starts near 5-year high in February

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Homebuilders were a lot busier in February than they were a year ago, starting construction on 27.7 percent more units.Aside from the 982,000 mark seen in December 2012, February's seasonally adjusted annual rate of 917,000 home starts was the highest since July 2008 when it reached 949,000. Housing starts of all types were up 0.8 percent from January to February, and have climbed by about 90 percent from a post-collapse bottom in early 2009. Single-family starts are up about 75 percent from their post-bubble low, pointed out Bill McBride on his blog Calculated Risk. Single-family housing starts in February were at a rate of 618,000, a 31.5 percent jump from a year ago and up 0.5 percent from January. Source: Calculated Risk Builder confidence slipped for the second month in a row in March as builders are dealing with the growing pains around restarting an industry, according to a monthly survey from the National Association of Homebuilders (NAHB). "In addition to tight credit ...