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Construction of new homes and permits for new projects were down in November, according to a report released by the Commerce Department.
?EUR??,,????'?????< Despite recent housing industry woes, a survey conducted by Landscape Communications of landscape contractors showed that they have a generally favorable view of economic conditions in 2008. Approximately 49 percent of the respondents said they expected a better year economically for their companies in 2008 from 2007. In addition, 36.2 percent of the respondents said they expected similar conditions in 2008 compared with 2007. Privately owned housing starts in November were at a seasonally adjusted annual rate of 1.187 million units. This is 3.7 percent below the revised October estimate of 1.232 million units and is 24.2 percent below the revised November 2006 rate. Single-family housing starts in November were at a rate of 829,000; this is 5.4 percent below the October figure of 876,000. The November rate for units in buildings with five units or more was 332,000. Building rose 0.3 percent in the South, but showed a drop in construction in the other three regions, led by a 16 percent slump in the Northeast. Starts fell 6.9 percent in the West and 1.5 percent in the Midwest. Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1.152 million. This is 1.5 percent below the revised October rate of 1.170 million and is 24.6 percent below the revised November 2006 estimate of 1.527 million. Single-family authorizations in November were at a rate of 764,000; this is 5.6 percent below the October figure of 809,000. Authorizations of units in buildings with five units or more were at a rate of 334,000 in November. ?EUR??,,????'?????< Darda and other economists said the pullback in construction was needed for builders to work off a glut of unsold homes, a necessary step to the sector?EUR??,,????'?????< Privately owned housing completions in November were at a seasonally adjusted annual rate of 1.344 million. This is 4.1 percent below the revised October estimate of 1.402 million and is 28.7 percent below the revised November 2006 rate. Single-family housing completions in November were at a rate of 1.088 million, which is 4.1 percent below the October figure of 1.135 million. The November rate for units in buildings with five units or more was 229,000. The National Association of Home Builders reported Monday that its index of builder sentiment remained at a record low in December for a third straight month. The index remained at 19, the lowest reading since this gauge of builder optimism was created in 1985. The index has been below 50 since May 2006. Index readings above 50 indicate positive sentiment among builders about future sales. Sources: Commerce Department, National Association of Home Builders, Reuters
Despite recent housing industry woes, a survey conducted by Landscape Communications of landscape contractors showed that they have a generally favorable view of economic conditions in 2008. Approximately 49 percent of the respondents said they expected a better year economically for their companies in 2008 from 2007. In addition, 36.2 percent of the respondents said they expected similar conditions in 2008 compared with 2007.
Privately owned housing starts in November were at a seasonally adjusted annual rate of 1.187 million units. This is 3.7 percent below the revised October estimate of 1.232 million units and is 24.2 percent below the revised November 2006 rate. Single-family housing starts in November were at a rate of 829,000; this is 5.4 percent below the October figure of 876,000. The November rate for units in buildings with five units or more was 332,000.
Building rose 0.3 percent in the South, but showed a drop in construction in the other three regions, led by a 16 percent slump in the Northeast. Starts fell 6.9 percent in the West and 1.5 percent in the Midwest.
Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1.152 million. This is 1.5 percent below the revised October rate of 1.170 million and is 24.6 percent below the revised November 2006 estimate of 1.527 million. Single-family authorizations in November were at a rate of 764,000; this is 5.6 percent below the October figure of 809,000. Authorizations of units in buildings with five units or more were at a rate of 334,000 in November.
?EUR??,,????'?????<
Darda and other economists said the pullback in construction was needed for builders to work off a glut of unsold homes, a necessary step to the sector?EUR??,,????'?????<
Privately owned housing completions in November were at a seasonally adjusted annual rate of 1.344 million. This is 4.1 percent below the revised October estimate of 1.402 million and is 28.7 percent below the revised November 2006 rate. Single-family housing completions in November were at a rate of 1.088 million, which is 4.1 percent below the October figure of 1.135 million. The November rate for units in buildings with five units or more was 229,000.
The National Association of Home Builders reported Monday that its index of builder sentiment remained at a record low in December for a third straight month.
The index remained at 19, the lowest reading since this gauge of builder optimism was created in 1985. The index has been below 50 since May 2006. Index readings above 50 indicate positive sentiment among builders about future sales.
Sources: Commerce Department, National Association of Home Builders, Reuters
Raleigh, North Carolina
Francisco Uviña, University of New Mexico
Hardscape Oasis in Litchfield Park
Ash Nochian, Ph.D. Landscape Architect
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