Housing Starts Soar 22.6% in July as Americans Reenter the Housing Market in Drove

This article came from https://www.realtor.com/ and it is another key to how the housing market is strong and viable even in today’s Covid-19 world. I worry how good can it get? As I have mentioned in many blog post before from 2008–2018 there where no new median priced homes built because of the regulations and lack of money in the system.

You remember the fences around the new home construction sites for basically 9 years before the contractors started building medium priced homes again. Imagine no medium priced vehicles being built for 10 years?

“U.S. home builders began construction on homes at a seasonally-adjusted annual rate of 1.496 million in July, up 22.6% from the previous month and 23.4% from a year ago, the U.S. Census Bureau reported Tuesday. The pace of home building is now 7% down from the pre-coronavirus high.”

Fast forward until today and home builders can make money on medium priced homes and they are building them. 22.6% is a huge increase and it should go up from there. The homes for sale inventory is low and the priced are increasing a bit. I think that will be going on until there is an adjustment up on the interest rates.

“All regions experienced an overall uptick in housing starts despite rising…