Recent Housing Production Pattern Is a Mixed Bag

 

Single-family housing starts for April were up by about 3% from March and from the average for the first quarter of the year. Single-family permits show much the same pattern, and it?EUR??,,????'???s possible that the low point for this dreadful cycle was reached in the first quarter ?EUR??,,????'??+ a bit earlier than in the most recent forecast. - Courtesy of www.calculatedriskblog.com

It?EUR??,,????'???s reassuring that single-family starts for sale now are down to about two-thirds of the total, compared with more than four-fifths during the unsustainable boom period. These numbers are reasonably close to the long-term average share.

The overall level of housing production is quite depressed and the recent pattern is quite a mixed bag, with some components showing stabilization and even hints of improvement while others are displaying sharp retrenchment. ?EUR??,,????'??? Courtesy of National Association of Home Builders