Real Estate Market Update
Dated: December 24 2018
Housing Starts hit a better-than-expected 1.256 million annual rate, up 3.2% for November, though down 3.6% from a year ago.
Of course, that's when starts were way up following Hurricanes Harvey and Irma.
But comparing the first 11 months this year against the same period in 2017 shows starts up 4.7% overall.
And the future looks good:
Building Permits blasted up 5.0%, the biggest one month gain in more than a year.
Existing Home Sales also surprised, up two months in a row, though down from a year ago thanks to tight supply.
Yet inventories are up four months in a row and demand is strong: 43% of homes sold in less than a month!
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