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This Chart of New Home Construction Looks Surprisingly Good Despite Biggest Hit in 40 Years

Posted To: MND NewsWire

While the March residential construction report from the U.S Census Bureau is grim, one can find a small glimmer of optimism in the fact that, while housing starts fell off a cliff, there was much less damage done to permits . Perhaps this means builders are envisioning a pause in construction rather than a total collapse. Robert Dietz, an economist with the National Association of Home Builders (NAHB) points out that, despite the mitigation efforts to control spread of the COVID-19 virus, construction can continue in a majority of states, “as home building is deemed an essential business activity. We estimate that approximately 90% of single-family units under construction are located in ‘essential’ states and 80% of apartment units are located in such states.” In any case, housing starts…(read more)

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