Permits To Build New Homes At 7-Month High

There are more interested buyers than available homes for sale this spring. In many areas, that’s pushing home prices higher and cutting the amount of time attractive, affordable listings are on the market before selling. In other words, the market remains fast paced and competitive, and the quickest solution is more homes for sale. Fortunately, it seems home builders are responding. According to the most recent numbers from the U.S. Census Bureau and the Department of Housing and Urban Development, the number of permits to build new single-family homes was at a seven-month high in April, rising for the third consecutive month. Housing starts were also up from the month before, increasing 2.2 percent from March. The numbers are evidence that the new home market is rebounding. It’s also encouraging news for buyers, as the more homes there are for sale, the better conditions will be for buyers of both new and existing homes. (source)


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