Housing Starts Surge 15% in September
U.S. Department of Commerce reports a 34% year over year increase in housing starts in September to the highest level in four years.
More good news for integrators on the housing front. While home construction has been on a steady rise in past months, the data in September reflects an outright spike.
The number of new housing starts in September increased 15 percent over August to a seasonally adjusted annual rate of 872,000, according to the U.S. Department of Commerce. Compared to last September, the number of starts is up 34.8 percent.
The new figures represent the highest level for housing starts in four years. Single-family homes account for 69 percent of the new starts in September, up 11 percent to 603,000. That is the highest level for single-family homes since August 2008. Also, it’s an increase of 43 percent compared to September 2011. Multi-dwelling units (MDUs) rose 25.1 percent vs. August.
Also, housing construction was up in three of out of four regions of the country: Up 20.1 percent in the West, 19.9 percent in the South and 6.7 percent in the Midwest. New construction fell 5.1 percent in the Northeast.
“Builders are responding to the rising demand for new homes as consumers begin to feel more confident about their local markets and put back into motion purchasing plans that were on hold during the recession,” says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla.
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California. Have a suggestion or a topic you want to read more about? Email Jason at [email protected]
Follow Jason on social media:
ResearchRealtors Becoming Obsolete Without Smart Home Tech for On-Demand Home Buyers
New Research Paradigm for Connected Devices: Domotz Analyzes 1 Million Fing Households
Presenting the CE Pro 100 of 2017
How CE Pro 100 Custom Installation Firms Handle Hiring Challenges
The Most Popular Outdoor Technology Isn’t What You’d Expect
View more on Research