RE/MAX of Greensboro & PartnersRE/MAX of Greensboro & Partners

Triad Real Estate: Greensboro, High Point, Kernersville, Winston Salem

RE/MAX of Greensboro: 336.854.0500
RE/MAX Partners: 336.854.2400
My Account Login | Register
  • Menu
  • Home
  • Search Homes For Sale
  • Home Valuation
  • Meet Our Agents
  • the Blog
  • Join RE/MAX
  • Contact Us

Finding Truth In September’s Housing Starts Report

Housing Starts 2009-2011Headlines in newspapers can be misleading — especially with respect to housing figures. Media coverage of the most recent Housing Starts data serves as an excellent illustration.

Wednesday, the Census Bureau released its September Housing Starts report. In it, the government said that national Housing Starts rose 15 percent in September as compared to August 2011, tallying 658,000 units on a seasonally-adjusted annualized basis.

The September reading is the highest monthly reading since April 2010, the last month of last year’s home buyer tax credit.

The sudden surge in starts is big news for a housing market that has struggled of late, and the press was eager to carry the story. Here is a sampling of some headlines:

  • U.S. Housing Starts Rise 15%, Hit 17-Month High (MarketWatch)
  • Home Building Jumps 15% in September (ABC)
  • New Construction Surges In September (LA Times)

These headlines are each accurate. However, they’re also misleading.

Yes, Housing Starts did surge in September, but if we remove the “5 or more units” grouping from the Census Bureau data — the catgory that includes apartment buildings and condominium structures — we’re left with Single-Family Housing Starts and Single-Family Housing Starts rose just 1.7 percent last month.

That’s a good number, but hardly a great one. And for home buyers and sellers throughout Greensboro and nationwide, it’s the Single-Family Housing Starts that matter most. Individuals like you and I don’t buy entire apartment buildings. Most often, we buy single-family homes. Therefore, that’s the data for which we should watch.

The good news is that media tales work in both directions.

Building Permits dropped 5 percent last month when the volatile 5-unit-or-more-units category was included from the math. Isolating for single-family homes, we find that permits were unchanged.

This is good housing because 82% of homes begin construction within 60 days of permit-issuance, hinting at a steady, late-fall housing market.

Posted in: Housing Analysis Tagged: Building Permits, Census Bureau, Housing Starts

Quick Home Search

Post navigation

« Homebuilder Confidence Rises on Surging Sales Volume, Foot Traffic
Despite 18% Contract Failure Rate, Home Resales Stay Strong »

My Account Login

Recent Blog Posts

Home Buyer Guide - Winter 2021

Home Buyer Guide - Winter 2021 Are You Thinking About Buying a Home? The process of buying a home can be overwhelming at times, but you don’t need to go through it alone. You may be wondering … Continue reading...

Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about – success, freedom, and a sense of prosperity – are universal. … Continue reading...

Some Highlights Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row. Owning real estate is more than just a place to call home. It’s also … Continue reading...

It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today’s market is at a turning point, making it more … Continue reading...

Search The Blog

Search for:

News, Tips & Advice

  • Around The Home (272)
  • Baby Boomers (6)
  • Buying Myths (88)
  • Chapter 7 Bankruptcy (1)
  • Consumer Tips (1)
  • Credit Scoring (1)
  • Demographics (19)
  • Distressed Properties (22)
  • Down Payments (37)
  • Federal Reserve (29)
  • FHFA (2)
  • Financial Crisis (1)
  • Financial Reports (135)
  • First Time Home Buyers (213)
  • For Buyers (414)
  • For Sellers (343)
  • Foreclosure (1)
  • Foreclosures (23)
  • FSBOs (15)
  • Gen Z (8)
  • Generation X (4)
  • Giving Back (3)
  • Happy Thanksgiving (1)
  • Holidays (11)
  • Home Building Tips (5)
  • Home Buyer Tips (198)
  • Home Buying Tips (1)
  • Home Care (3)
  • Home Decorating (2)
  • Home Financing Tips (4)
  • Home Maintenance (1)
  • Home Mortgage (3)
  • Home Mortgage Tips (134)
  • Home Ownership (2)
  • Home Seller Tips (162)
  • Home Selling Tips (27)
  • Home Tips (1)
  • Home Values (6)
  • Homebuyer Tips (6)
  • Homeowner Tips (7)
  • Housing Analysis (184)
  • Housing Market (18)
  • Housing Market Updates (284)
  • Infographics (106)
  • Interest Rates (121)
  • Investment Properties (1)
  • Just For Fun (2)
  • Luxury Market (11)
  • Market Outlook (148)
  • Millennials (15)
  • Mortagage Tips (5)
  • Mortgage (87)
  • Mortgage Guidelines (19)
  • Mortgage Rates (150)
  • Mortgage Tips (11)
  • Move-Up Buyers (238)
  • New Construction (26)
  • News (74)
  • Personal Finance (26)
  • Pricing (176)
  • Rankings (2)
  • RE/MAX Buyer & Seller Tips (1)
  • RE/MAX of Greensboro (17)
  • Real Estate (309)
  • Real Estate 101 (10)
  • Real Estate Definitions (3)
  • Real Estate Tips (43)
  • Real Estate Trends (2)
  • Rent vs. Buy (43)
  • Selling Myths (56)
  • Selling Your Home (1)
  • Senior Market (6)
  • Short Sales (4)
  • Statistics (2)
  • Taxes (3)
  • The Economy (20)
  • Time-sensitive (14)
  • Uncategorized (12)

Home Buyer Tips

Looking For A Major Lifestyle Change? Consider Buying A ‘Micro’ Home

With the cost of a home on the rise and the concept of being sustainable becoming more popular, many people are considering moving to a smaller home to minimize their impact. It’s important, however, to consider what living small is really like before deciding that it’s the right move for you.

Around The Home

The Basic Home Security Checklist Every Home Needs

Did you realize that only around 17 percent of the homes in the United States have a security system? Leaving your residence unprotected can come back to haunt you in the future.

Home Seller Tips

Selling Your Home FHA? Learn These Tips To Ensure A Smooth Closing

Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property. While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.

© 2022 · Greensboro Real Estate Inc. dba RE/MAX of Greensboro & RE/MAX Partners

Terms of Use | Privacy Policy | *Affiliated Business Notice

Each Office Independently Owned and Operated.
Greensboro Real Estate Inc Supports Equal Housing Opportunity
*Affiliated Business Notice

Click for the BBB Business Review of this Real Estate in Greensboro NC
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok