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2009 4th Quarter Real Estate Market - State of House Builders
Housing production indicators continued to show improvement in the fourth quarter of 2009. The number of single-family housing permits and completions both rose in the fourth quarter, but housing starts declined, likely because of unusually cold weather. Multifamily construction (condominiums and apartments) was mixed during the fourth quarter. Because the multifamily sector is traditionally volatile, fluctuations in the sector tend to be less indicative of market climate. Manufactured housing continued a downward trend that began after the hurricane-induced sales- order increases of late 2005.
■ During the fourth quarter of 2009, builders took out permits for new housing at a pace of 598,000 (SAAR) units, which was 4 percent higher than in the third quarter of 2009 but 7 percent lower than in the fourth quarter of 2008. Single-family building permits were issued for 474,000 (SAAR) housing units in the fourth quarter of 2009, indicating an increase of 3 percent from the third quarter of 2009 and 13 percent from the fourth quarter of 2008. This is the third consecutive quarter in which single-family permits have increased, after having declined for 14 consecutive quarters.
■ Builders started construction on 554,000 (SAAR) new housing units in the fourth quarter of 2009, down 6 percent from the third quarter of 2009 and down 16 percent from the fourth quarter of 2008. Single-family housing starts totaled 472,000 (SAAR) housing units in the fourth quarter of 2009, down 5 percent from the third quarter but up 2 percent from the fourth quarter of 2008. Single-family starts rose in the second and third quarters of 2009, after having fallen for 12 consecutive quarters.
■ Builders completed 794,000 (SAAR) new housing units in the fourth quarter of 2009, up 4 percent from the third quarter of 2009 but down 25 percent from the fourth quarter of 2008. Single-family completions totaled 533,000 (SAAR) in the fourth quarter of 2009, up 8 percent from the third quarter but down 27 percent from the fourth quarter of
2008. Completions have increased in the third and fourth quarters, after having declined for 14 consecutive quarters.
■ Manufactured housing shipments reached a record low of 48,700 (SAAR) units in the fourth quarter of 2009, the lowest level since the data series began in 1959. Manufacturers’ shipments in the fourth quarter of 2009 were down 1 percent from the third quarter and 26 percent from the fourth quarter of 2008.
Source: HUD
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. 2009 4th Quarter Real Estate Market Data – The State of House Building and House Builders is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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