HUD announces the release of its latest analysis of the housing market, based on performance numbers of housingproduction, sales, affordability, and multi-family housing unit production.
The report finds that thehousing sector of the U.S. economy remained strong duringthe first quarter of 2005. Compared to the first quarterof 2004, permits for new homes were up 5.3 percent;construction starts were up 7.3 percent; new housingcompletions were up 6.0 percent; and shipments of newmanufactured homes were up 9.0 percent. Sales of existinghomes and new single-family units were also up, despitethe continuing rise in their median prices. Americanfamilies grew their income enough to offset higherinterest rates and the increases in home prices. Permitsfor new multi-family units were up 17.8 percent. Thesedata, and more, are reported for national and regionallevels and can be compared to historical trends.
[Editor's note: The link below is to a PDF document.]
Thanks to HUD User News
FULL STORY: U.S. Housing Market Conditions 1st Quarter 2005
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