Housing Starts Rise 2.8% In March 2014

Courtesy of National Association of Home Builders2014-03-20 13.24.05

April 16, 2014 – Led by a 6 percent rise in single-family starts, nationwide housing production rose 2.8 percent above an upwardly revised February rate of 920,000 to a seasonally adjusted annual rate of 946,000 units in March, according to newly released figures from HUD and the U.S. Census Bureau.

“We see improving signs of new-home construction as we move into the spring buying season,” said Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del.  “The strongest recovery is in the Northeast and Midwest, where builders were hampered by severe winter weather earlier in the year.”

“Today’s report is in line with our forecast of a gradual strengthening in the housing sector in 2014,” said NAHB Chief Economist David Crowe. “However, several uncertainties including tight credit conditions for home buyers and erratic job growth are making builders cautious about getting ahead of demand.”

Single-family housing starts rose 6 percent to a seasonally adjusted annual rate of 635,000 units in March, while multifamily starts fell 6.1 percent to 292,000 units.

Regionally in March, combined single- and multifamily housing production rose strongly in the Northeast and Midwest with gains of 30.7 percent and 65.5 percent, respectively, but fell 9.1 percent and 4.5 percent in the South and West, respectively.

Overall permit issuance fell 2.4 percent to 990,000 units in March. The Northeast and Midwest posted gains of 33.3 percent and 26 percent, respectively, while the West was unchanged and the South posted a 17.1 2014-03-03 18.03.05percent decline.2014-03-03 16.27.54 2014-03-03 16.29.41 2014-03-03 16.31.33 2014-03-20 13.16.11

The housing starts in the South may have dropped but not in Naples Florida.  Our new construction communities are still going strong.  The Esplanade on County Road 951 has now opened and is ready for business with 2014-03-20 13.20.11single family homes.  There is no golf course attached to this community so the fees are lower and the starting home price is lower than the The Esplanade Golf and Country Club.  Call me for details on new home construction in Naples and the surrounding area.  There are many communities to choose from.  Let me do the research for you and narrow down the communities that suit your needs.  You can relax on the beach or play a round of golf instead of driving around visiting communities that are not right for you!

Remember it is always toasty in Naples and you deserve your piece of Naples sunshine and a new home!

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