Building Permits Better Housing Market Indicator
Let building permits tell the tale of home construction, wrote Kris Hudson forThe Wall Street Journal. In other words, don't panic over the 17% drop in starts last month.
The Commerce Department’s data for February home starts is an anomaly born of harsh weather, he said, with residential building permits giving a better view.
Year-over-year overall construction starts were down 3.3% in February, but residential building permits were up 2% and are "a solid gauge of building activity in the near future. Also, the number of permits issued in January and February of this year for single-family houses shows a 0.9% increase year-over-year. While not strong, he noted, it's not quite the disaster the February drop would suggest.
Click here for the full article. It's worth a read.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
