September Housing Starts Up 15% – Existing Home Inventory at Healthy Level

Housing starts in September increased 15% over August based on reports provided by the US Census Bureau and the Department of Housing and Urban Development. In a year-over-year comparison, September 2012 housing starts were 34.8% greater than in September 2011. Additionally, single-family housing starts increased 11% over August.

On another note, the existing home inventory has reached a healthy level. Bryan Kluger from HousingWire  reports, “Existing home and new home sales are also increasing at a 10% year-over-year rate, which mean demand is significantly higher, and mortgage rates are at an all time low. Since consumers are purchasing properties more now, the existing home inventory is down 20% year-over-year and at six months supply, which is back to normal for a good, healthy market.” http://bit.ly/Ra67gf

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