The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2010, showing new home starts were at the highest levels in the last four 'post tax credit expiration' months.
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 569,000. This is 1.8% (±2.0%) above the revised July rate of 559,000, but 6.7% (±1.4%) below the August 2009 estimate of 610,000.
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 598,000. This is 10.5% (±11.9%) above 11.9% the revised July estimate of 541,000 and is 2.2% (±9.7%) above the August 2009 rate of 585,000.
Privately-owned housing completions in August were at a seasonally adjusted annual rate of 603,000. This is 5.6% (±12.6%) above the revised July estimate of 571,000, but is 23.7% (±9.6%) below the August 2009 rate of 790,000.
While housing starts are seasonal, and the August figures reflect the height of the building season, this is still good news both for New Jersey builders and buyers of new homes.
Contact me to find out about new home developments in Mercer County and our surrounding areas.
Joe Giancarli, SA
Real Estate Advisor
jgiancarli@remax.net
609-658-2612
http://www.joegiancarli.com/
http://www.njhomesource.com/
http://www.njhomesource.net/
www.activerain.com/blogs/josephgiancarli
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