Ceramic Industry News / Brick and Structural Clay / Glass / Market Trends

New Home Production Tops 1 Million in November

Led by a solid increase in both single-family and multifamily starts, nationwide housing production rose 22.7% to a seasonally adjusted annual rate of 1.09 million in November, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

“This report is in line with our latest survey, which shows that builders are increasingly confident that buyers who have sat on the sidelines are feeling more secure about their economic situation and are now moving to purchase new homes,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “This upward trend could be even stronger if not for persistently tight lending conditions for buyers and builders facing rising costs for building materials, lots and labor.”

“Single-family and multifamily starts are at five-year highs, providing additional evidence that the recovery is here to stay," said David Crowe, NAHB chief economist. “We hit a soft spot this fall when interest rates jumped and the government closed down, but mortgage rates still remain very affordable and pent-up demand is helping to boost the housing market. We expect a continued steady, gradual growth in starts and home sales in 2014.”

Single-family starts posted a 20.8% gain to a seasonally adjusted annual rate of 727,000 units in November, which was their fastest rate since December of 2007. Multifamily production was up 26 percent to 364,000 units. Regionally, combined starts activity rose 41.7% in the Midwest, 38.5% in the South and 8.8% in the West, but fell 29.4% in the Northeast.

Overall building permits, which are an indicator of future building activity, fell 3.1% to 1.007 million units in November. Despite the modest decline, this was the second month that new permit issuance topped the million mark. Regionally, total permit issuance increased 7.8% in the Northeast and fell 7% in the South, 0.4% in the West and 0.6% in the Midwest.

For more information, visit www.nahb.org.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2015 Ceramics Expo

Snapshots from the 2015 Ceramics Expo, April 28-30, Cleveland, Ohio. Posted: May 14, 2015.

Podcasts

Ceramics Expo podcast
Editor Susan Sutton discusses the upcoming Ceramics Expo with event director Adam Moore.
More Podcasts

Ceramic Industry Magazine

CI May 2015 cover

2015 May

Our May issue covers bulk batching, pneumatic conveyors, high-temperature furnaces and more! Be sure to check it out today.

Table Of Contents Subscribe

Daily News

We know where you find the latest ceramic industry news (ahem), but where do you catch up on the rest of your daily news?
View Results Poll Archive

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!