HVAC Breaking News

Oct. 20, 2004: Wet Weather Slows Housing Starts In September

October 20, 2004
/ Print / Reprints /
ShareMore
/ Text Size+
WASHINGTON - The pace of housing starts slowed in September, according to U.S. Department of Commerce figures. The National Association of Home Builders (NAHB) cited unusually wet weather conditions across much of the country for the decline.

The government reported that housing starts dropped 6 percent from the best pace of the year to a still-solid rate of 1.9 million units on a seasonally adjusted annual basis in September. Meanwhile, issuance of new permits, which can be an indication of future building activity, rose 1.8 percent to an over 2 million-unit rate, and the number of permits that have been issued but not yet used rose to the highest level since the 1970s.

"Builders would have started more homes last month, but just took a rain-check in a lot of cases," said Bobby Rayburn, president of the NAHB. "In fact, given all the weather-related issues in September, today's report is pretty encouraging. We're in good shape heading into the fourth quarter."

The 6 percent drop in nationwide housing starts was largely attributable to a 27 percent decline in the storm-weary Northeast, where lingering precipitation saturated many building sites. Starts also declined 4.6 percent in the Midwest, 8 percent in the West, and 1 percent in the South - a region that includes hurricane-battered Florida but also other less-affected states. On the single-family side, starts fell 8.2 percent, but on the multifamily side they rose 4.7 percent.

Meanwhile, building permits for single-family homes held firm at the previous month's level, and permits for multifamily units gained 8.2 percent. Regionally, every part of the country reported gains in permits except the West, which had a 1.3 percent decline.

Publication date: 10/18/2004

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.

Podcasts

NEWSMakers: Jeremy Begley

Jeremy Begley, home-performance specialist and Web and social media manager with National Heating and Air Conditioning Co. in Cincinnati discusses how and why you should add home-performance philosophies to your contracting repertoire. Posted on Sept. 12.

More Podcasts

ACHRNEWS

NEWS 09-15-14 cover

2014 September 15

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Venting R-22

The NEWS reported that a man received prison time for venting R-22. Should EPA step up enforcement?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con