Cooling Real Estate Market? Not According to Builders
Although much of the recent news has been about cooling real estate markets and possible bubbles, looks like builders are still confident according to today's Census Bureau Housing Starts Report
Building Permits: Up 2.5% over Oct 2005 and 3% over Nov 2004
Housing Starts: Up 4.8% over Oct 2005 and up a whopping 17.5% over Nov 2004
Housing Completions: Down 4.9% over Oct 2005 (may be a hurricane Season anomaly) but up 6.5% over Nov 2004.
So home builders who spend millions in research and demographic studies are still moving forward with building new homes even with rising interest rates and rising building costs. It will be interesting to see how this will balance out as an oversupply of new homes could also affect the real estate market.
Building Permits: Up 2.5% over Oct 2005 and 3% over Nov 2004
Housing Starts: Up 4.8% over Oct 2005 and up a whopping 17.5% over Nov 2004
Housing Completions: Down 4.9% over Oct 2005 (may be a hurricane Season anomaly) but up 6.5% over Nov 2004.
So home builders who spend millions in research and demographic studies are still moving forward with building new homes even with rising interest rates and rising building costs. It will be interesting to see how this will balance out as an oversupply of new homes could also affect the real estate market.
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