In the latest sign that the housing market remains in a correction phase, housing starts rose 2.3 percent in June to a seasonally adjusted annual rate of 1.467 million. However, building permits, which are considered an indicator of future building activity, were down sharply.
Housing starts fell 2.1 percent in May to a
seasonally adjusted annual rate of 1.474 million units as the correction in the
housing market continued, according to figures released by the U.S.
Department of Commerce. Starts were
down 24.2 percent from a year earlier.
Sales of new single-family homes increased a slight 2.6 percent in March to a seasonally adjusted annual rate of 858,000 units, following sharp declines in both January and February.
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Housing starts rebounded 9 percent in February following a 14.3 percent drop the month before. Permits were issued at a seasonally adjusted annual pace of 1.532 million units, down 2.5 percent for the month.
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Following a 4.9 percent gain in September, total housing starts fell 14.6 percent in October to a seasonally adjusted annual rate of 1.486 million units, according to figures released by the U.S. Department of Commerce. This was 27.4 percent below the pace from a year ago.
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Nationwide housing starts in September regained the ground they lost in a steep decline the previous month, but issuance of building permits - a key indicator of future building activity - continued on a downward trend, according to statistics released by the U.S. Census Bureau.
Photos from the 2013 ACCA Conference & IE3 Expo in Orlando, Fla.
Podcasts
Cade Clark, assistant vice president of government affairs for the Air-Conditioning, Heating & Refrigeration Institute (AHRI), gives a brief overview of the new version of the Shaheen-Portman bill, what AHRI thinks of the energy-efficiency legislation, and how it might affect the HVACR industry if it becomes law.
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