UPDATE: Just a quick Update on Housing Starts. The US Census is showing a 46% increase in 1 unit housing starts from August 2011 to September 2011 for the Midwest Region. I will update the Minnesota and Twin Cities figures when they become available.
The NAHB (National Association of Homebuilders) are reporting an increase in permits for September 2011. The increase has been primarily in multi-family housing starts, however single family units were up modestly as well.
September housing starts were up 15% but the increase was almost entirely within the multifamily sector. Single-family starts increased a modest 1.7% to 425,000, essentially the same as the second and third quarter averages. Multifamily starts (2 or more units in a structure) roared ahead 51.2% to 233,000, the highest in three years.
As you can see by their housing starts graph, we are gradually picking up. This graph shows a similar prediction that the National Association of Realtors economists predict. That housing starts will increase dramatically in the 3rd and 4th quarters of 2012 and increasing throughout 2013.
- Unicorn Housing Starts!!! (captaincapitalism.blogspot.com)
- Minneapolis St Paul Building Permits and Housing Starts (craigkamman.wordpress.com)
- Sept. housing starts surge 15% to 17-month high (marketwatch.com)
- U.S. housing starts leap most in 17 months (business.financialpost.com)