Apr 17

New-Home Construction Ramps Up in Midwest, Northeast

New-Home Construction Ramps Up in Midwest, Northeast

 

New-Home Construction Ramps Up in Midwest, Northeast. Image courtesy of ddpavumba / FreeDigitalPhotos.net

New-Home Construction Ramps Up in Midwest, Northeast. Image courtesy of ddpavumba / FreeDigitalPhotos.net

Groundbreaking on new single-family homes posted a 6 percent rise in March, showing a gradual strengthening in the sector — particularly in the Northeast and Midwest — according to new figures by the Commerce Department.

On the other hand, the volatile multifamily market saw starts fall 6.1 percent in March. Overall, housing production, which reflects both multifamily and single-family starts, rose 2.8 percent month-over-month. Starts were down 5.9 percent compared to March 2013, the largest year-over-year decline since April 2011.

Still, “we see improving signs of new-home construction as we move into the spring buying season,” says Kevin Kelly, chairman of the National Association of Home Builders. “The strongest recovery is in the Northeast and Midwest, where builders were hampered by severe winter weather earlier in the year.”

Single-family and multifamily housing starts rose the strongest in the Northeast and Midwest with gains of 30.7 percent and 65.5 percent, respectively. Starts fell in the South by 9.1 percent and by 4.5 percent in the West.

Builders remain cautious about demand, facing continued tight credit conditions for home buyers and erratic job growth, says NAHB Chief Economist David Crowe.

Construction permits, a gauge of future construction, dropped 2.4 percent to 990,000 units in March. Permits rose 33.3 percent in the Northeast and 26 percent in the Midwest, while declining 17.1 percent in the South and remaining unchanged in the West.

Source: National Association of Home Builders and “U.S. Industry Shows Some Vigor, But Housing Still Soft,” Reuters (April 16, 2014)

 

 

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.