Residential Construction UP 9.2%...So WHAT?!?!

Real Estate

BORING - BORING statistics but GREAT news! According to the US Census Bureau, New Residential Construction was up 9.2%!   What this means is that there are Builders that are optimistic and building new homes which means we will have more inventory for home buyers to purchase.  Now next month we will have to see if new home sales are UP. Let's keep an eye out for that.

 

New Residential Construction
09/19/2018 08:30 AM EDT
Privately-owned housing starts in August 2018 were at a seasonally adjusted annual rate of 1,282,000. This is 9.2 percent (+/- 11.4%)* above the revised July 2018 estimate of 1,174,000.

August 2018: +9.2* % change
July 2018 (r): -0.3* % change