Social Media     

 Connect with us!
Connect with Supply House Times on Facebook, Twitter, YouTube and LinkedIn

Latest News

Aug. 16, 2007 - Housing Starts Down 21 Percent

August 16, 2007
/ Print / Reprints /
/ Text Size+
Privately owned housing starts in July were at a seasonally adjusted annual rate of 1,381,000, down 21 percent from 2006, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Privately owned housing starts in July were at a seasonally adjusted annual rate of 1,381,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This is 20.9 percent below the revised July 2006 rate of 1,746,000, and 6.1 percent below the revised June 2007 estimate of 1,470,000.

Single-family housing starts in July were at a rate of 1,070,000, down 7.3 percent from the June figure of 1,154,000. The July rate for units in buildings with five units or more was 275,000.

Privately owned housing completions in July were at a seasonally adjusted annual rate of 1,512,000 - a decline of 22.2 percent from the same period last year. Single-family housing completions in July were at a rate of 1,203,000; this is 4 percent below the June figure of 1,253,000. The July rate for units in buildings with five units or more was 280,000.

Single-family building permits in July were 1,003,000; this is 1.6 percent below the June figure of 1,019,000. Overall, privately owned housing unit building permits had declined 22.6 percent from last year.

In other housing news, highly visible problems in the housing finance system are contributing to a wait-and-see attitude among prospective home buyers and reducing builder confidence in the single-family housing market, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The index declined two points to 22 in August, its lowest level since January 1991. Any number over 50 indicates that more builders view sales conditions as good than poor.

“Builders realize that issues related to mortgage credit cost and availability have become more acute, filtering some prospective buyers out of the market and prompting others to delay their decision to purchase a new home,” said NAHB President Brian Catalde, a home builder from El Segundo, Calif. “Builders are responding by trimming prices and stepping up non-price incentives to bolster sales and limit cancellations, although we’re dealing in a difficult market environment.”

“There is no question that problems in the subprime mortgage sector have spilled over to other components of housing finance, including the Alt.-A and jumbo markets, delaying a revival of the single-family housing market,” added NAHB Chief Economist David Seiders. “However, the government-related parts of the mortgage market still are functioning well and the underlying economic fundamentals promise to remain solid for some time - providing support to the longer-run housing outlook. We now expect to see home sales return to an upward path by early next year and we expect housing starts to begin a gradual recovery process by mid-2008. From there, the market will have plenty of room to grow in 2009 and beyond.”

Did you enjoy this article? Click here to subscribe to Supply House Times.
You must login or register in order to post a comment.



Image Galleries

BNP Media's Plumbing Group Visits Grundfos North American Headquarters

BNP Media’s Plumbing Group, comprised of the Plumbing & Mechanical, Supply House Times, PM Engineer (pme) and Reeves Journal brands, recently visited Grundfos’ new North American headquarters building in the western Chicago suburb of Downers Grove, Ill.

5/7/13 2:00 pm CST

How To Use Your Strengths To Fight The Threat Of Amazon Supply

AVAILABLE ON DEMAND A new 8,000 lb. gorilla, Amazon Supply, has taken aim at many of the customers of PHCP supply houses. Supply House Times columnist Dick Friedman, an authority on business planning and the strategic use of inventory, warehouses and technology will present strategies and tactics for you to compete with Amazon Supply.


Supply House Times

April 2014

2014 April

In the April issue of Supply House Times, there is much focus on young professionals in the distribution industry. Find out who is being recognized as this year's Young Executives for the American Supply Association and read who will be taking over Aaron & Co. when it's current owners retire. Read about Central Plumbing Specialties' recent expansion, catch up on the latest news from the distribution industry as well as the latest products!
Table Of Contents Subscribe

Supply House Times Poll

Trade Associations

Are trade association memberships and participation beneficial to your company?
View Results Poll Archive

The Supply House Times Store

2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

CS-OflRGBhomepage.jpgWith 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.

Premier 125

Premier 125 button

The information SUPPLY HOUSE TIMES uses to rank the Premier 125 is the most accurate we can gather. It is primarily based on responses to a questionnaire we send to the wholesalers in our database, supplemented with information obtained from industry reports and estimates.


facebook Twitter Updated icon Youtube Updated icon    LinkedIn Updated icon