According to the NAHB web site the Housing Market Index is a weighted, seasonally adjusted statistic derived from ratings for present single-family sales, single-family sales in the next six months and buyers traffic. This figure unexpectedly declined in March, showing that the housing recovery is still sluggish. In March this confidence index dropped to 15 this month from 17 in February. Generally, a reading below 50 means that the confidence level is low. The extension of the tax credit appears to be having little effect in mustering homebuyers. Projections of record foreclosures this year, a lack of job growth and an end to Federal Reserve purchases of mortgage-backed debt are hurdles for the real estate market.
NEW RESIDENTIAL CONSTRUCTION FEBRUARY
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2010. There are three primary categories building permits, housing starts, and housing completions. Building permits are a predictor for near future construction where permits have been issued. Housing starts are a proxy for current residential construction activity where the construction has actually started.
BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 612,000. This is 1.6 percent below the revised January rate of 622,000, but is 11.3 percent (±1.8%) above the February 2009 estimate of 550,000. Single-family authorizations in February were at a rate of 503,000; this is 0.2 percent below the revised January figure of 504,000. Authorizations of units in building with five units or more were at a rate of 89,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 575,000. This is 5.9 percent below the revised January estimate of 611,000, but is 0.2 percent (±9.8%)* above the February 2009 rate of 574,000. Single-family housing starts in February were at a rate of 499,000; this is 0.6 percent below the revised January figure of502 ,000. The February rate for units in buildings with five units or more was 58,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 700,000. This is 5.4 percent above the revised January estimate of 664,000, but is 15.5 percent (±13.6%) below the February 2009 rate of 828,000. Single-family housing completions in February were at a rate of 458,000; this is 4.3 percent above the revised January of 439,000. The February rate for units in buildings with five units or more was 236,000.
Stick Trade Blog
Housing Market Still Struggling
Posted March 16th, 2010<< Back to Stick Trade
Lumber News from Around the Web
- Timber Rattlers cruise past River Bandits - Appleton Post Crescent May 24, 2013Timber Rattlers cruise past River BanditsAppleton Post CrescentDAVENPORT, IOWA — The Wisconsin Timber Rattlers gave Jorge Lopez a big early lead and the right-hander ran with it. Lopez struck out seven and walked five over six no-hit innings to lead the Timber Rattlers to a 7-4 victory over the Quad Cities River ... […]
- At Timber Creek, speed rules - Philly.com May 24, 2013Philly.comAt Timber Creek, speed rulesPhilly.comSince they won an indoor state track title this winter, the Timber Creek 4x100- and 4x400-meter relay teams have formed a habit of giving big-time performances on the biggest stages. And it makes sense that they thrive under pressure. It's the same ... […]
- BLM to release $1.9 million to Oregon timber counties - The Register-Guard May 23, 2013KVALBLM to release $1.9 million to Oregon timber countiesThe Register-GuardGRANTS PASS — Federal timber payments held up by the mandatory budget cuts known as sequestration will start showing up in Oregon timber county accounts next week. U.S. Department of Interior spokeswoman Jessica Kershaw said the U.S. Bureau of ...Oregon Democrat Wyden: Time to boost l […]
- Reforestation study shows trade-offs between water, carbon and timber - Science Daily (press release) May 23, 2013Reforestation study shows trade-offs between water, carbon and timberScience Daily (press release)To help planners and policy makers understand the effects of reforestation, ASU scientists Silvio Simonit and Charles Perrings studied the effects of reforestation on a 'bundle' of ecosystem services: dry-season water flows, carbon sequestration ...and […]
- Lumber Liquidators: The Best Way to Play the Rebounding Housing Market - Investment U May 23, 2013Lumber Liquidators: The Best Way to Play the Rebounding Housing MarketInvestment UThere's no denying it… The evidence has been mounting for several quarters now. Home prices are on the rise and the number of distressed houses on the market is dropping steadily. In some key real estate markets, there are even reports of shortages of ... […]
- Timber-rattlesnake exhibit opens Saturday at Providence's Roger Williams Park ... - The Providence Journal May 23, 2013Timber-rattlesnake exhibit opens Saturday at Providence's Roger Williams Park ...The Providence JournalPROVIDENCE, R.I. -- Three poisonous timber rattlesnakes will be on exhibit for the first time Saturday at Roger Williams Park Zoo, the zoo has announced. "This exhibit of a venomous snake species is believed to be a first for the zoo, and the only […]
- Georgia Northwestern Inks Chattanooga Hardwood Prospect - The Chattanoogan May 23, 2013The ChattanooganGeorgia Northwestern Inks Chattanooga Hardwood ProspectThe ChattanooganSilverdale Baptist Academy's (TN) John Hall, seated middle, signs his letter of intent to Georgia Northwestern during a May 10 signing at the Chattanooga, Tennessee prep school. Seated to Hall's left is his mother, Reeda Hall, and to his right is his ... […]
- Two Oregon timber counties reject public safety levies - KMTR NewsSource 16 May 23, 2013kgw.comTwo Oregon timber counties reject public safety leviesKMTR NewsSource 16GRANTS PASS, Ore. (AP) — State officials are looking for alternatives after voters in two Oregon timber counties turned down tax increases to fund law enforcement. The outcome puts Curry County closer to going broke and a potential state takeover.2 Timber Counties Reject Public Sa […]
- 2 Oregon timber counties reject public safety levies - The Columbian May 22, 20132 Oregon timber counties reject public safety leviesThe ColumbianGRANTS PASS, Ore. — Voters in two Oregon timber counties — Curry and Josephine — have turned down tax increases to fund law enforcement, but a jail levy passed in a third, Lane County. Unofficial results with 100 percent of the votes counted show a ...Ore. timber counties reject public safety l […]
- Q&A: Portland Rejects Fluoride; Timber Counties Split On Levies - OPB News May 22, 2013Q&A: Portland Rejects Fluoride; Timber Counties Split On LeviesOPB NewsPortland voters have rejected a fluoride measure, and in three timber counties with public safety levies on the ballot, there are three different results. April Baer spoke live with OPB's Geoff Norcross Wednesday morning. GN: In some parts of Oregon ...and more » […]
