PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


Housing Starts Regain Ground

Tuesday, December 22, 2009

Comment | More

Nationwide housing production rose 8.9 percent in November, and building permits reached their highest levels in a year, the federal government reports.

The gain, driven by a big increase on the multifamily side, represented a partial bounce-back from an exceptionally slow month for housing activity in October, according to figures released this week by the U.S. Commerce Department.
 
"The fact that both starts and permits for new housing production rose last month is a good sign that we're headed in the right direction, albeit slowly, on the road to a housing recovery," said Joe Robson, chairman of the National Association of Home Builders (NAHB). "That said, the November improvement was primarily on the multifamily side, and poor job markets and other economic factors are still keeping many potential buyers on the fence for the time being."
 
NAHB Chief Economist David Crowe added: "Home builders remain very cautious about starting new homes, and overall housing production is still down on a three-month average basis. Understandably, it will take some time for the newly extended and expanded home buyer tax credit to start boosting sales in individual markets - just as it did the last time such an incentive was enacted.

"However, the fact that permits increased in November is a hopeful indication that the desired impact of the tax credit on housing demand may be forthcoming early in 2010."
 
Single-family housing starts made up some of the ground they lost in October, posting a modest 2.1 percent gain to a seasonally adjusted annual rate of 482,000 units in November. Meanwhile, multifamily starts rebounded from an all-time low in the previous month with a 67.3 percent gain to a seasonally adjusted annual rate of 92,000 units in November.
 
Gains in housing production were registered across all regions of the country in November, with a 16.4 percent increase in the Northeast, a 3 percent gain in the Midwest, a 12.3 percent increase in the South, and a nearly 2 percent gain in the West.
 
Permit issuance, which can be an indicator of future building activity, rose 6 percent in November to a seasonally adjusted annual rate of 584,000 units-its highest level in a year. Single-family permits rose 5.3 percent to 473,000 units, while multifamily permits rose 8.8 percent to 111,000 units.
 
Three out of four regions posted gains in housing permits for November, with a 4.7 percent increase reported in the Northeast, a 10.7 percent increase posted in the South, and a 2.7 percent gain registered in the West. The Midwest posted a 1.9 percent decline.

   

Tagged categories: Home builders; Housing

Comment Join the Conversation:

Sign in to our community to add your comments.

Dampney Co., Inc.
Solar Coating

High Temperature Resistant for Solar Panels/Collectors/Tubes. Achieve selectivity with the economy and ease
of application of a paint.


Minerals Research & Recovery

HIGH PERFORMANCE ABRASIVES


“Made in the USA!”

Why recycle waste from other countries? Go FASTER, CLEANER, at 1/3 THE COST with MR&R “All-American” Sharpshot®HP!!

WATCH THE VIDEO


AGC Chemicals
Lumiflon® FEVE Resin Renews Corroded Water Tank

LUMIFLON based coatings can last up to 30 years without fading, reducing life-cycle costs, re-application or replacement of underlying surfaces. Contact: 1-610-423-4300


Carboline Company
Hyrdrocarbon Fire & Jet Fire Protection

Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


Blastrac
HORIZONTAL AND VERTICAL SHOT BLASTING SYSTEMS

The 900VMB is the latest in Vertical Steel Shot Blasters, ideally suited for medium and large- sized vertical steel blast cleaning jobs and applications. It is remote controlled for operator safety, comfort, and productivity. See Video.
1-800-256-3440 www.blastrac.com


BASF
New resins from BASF will have metals loving water:

Excellent corrosion resistance, low VOC, high gloss, thin films basf.us/industrialcoatings
polyorders@basf.com
800-231-7868


Termarust Technologies
Termarust (HR CSA) Chemically Stops
Active Corrosion

Hydro Utility Penstock Overcoated in 1997. Was power washed and overcoated with major cost saving. No environmental impact with Termarust's low LC50 of 41,007 ppm.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com