Laserfiche WebLink
Housing <br />0 <br />200 <br />400 <br />600 <br />800 <br />1,000 <br />1,200 <br />1,400 <br />1,600 <br />1,800 <br />2,000 <br />2,200 <br />2,400 <br />In Thousands of UnitsAnnualized Housing Starts <br />Multi Family Housing Starts <br />Single Family Housing Starts <br />Housing Starts increased sharply month-over-month in November by 14.8%to an annual rate of 1.560 million units.Starts were up 18%for <br />single-family units and up 6.9%for multi-family.Total starts of new homes are up 9.3%year-over-year.The pick-up in growth can be <br />partially attributed to lower costs of construction materials and homebuilders adjusting projects to accommodate the higher interest rate <br />environment. According to Freddie Mac,average 30-year fixed rate mortgage rates declined to 6.49%as of December 21st,paralleling <br />the drop in the 10-year US Treasury yield.According to the Case-Shiller 20-City Home Price Index, housing prices rose 4.9%year-over-year <br />in October,accelerating from a 3.9%year-over-year gain in September.Tight inventories and higher mortgage rates continue to impact <br />affordability. <br />Source: US Department of Commerce Source: S&P <br />-20.0% <br />-16.0% <br />-12.0% <br />-8.0% <br />-4.0% <br />0.0% <br />4.0% <br />8.0% <br />12.0% <br />16.0% <br />20.0% <br />24.0% <br />S&P/Case -Shiller 20 City Composite Home Price Index <br />RecessionYOY (%) Change8