US Housing starts hit a 17 year low

Posted on August 20, 2008 by Dave

New ConstructionHome and apartment construction nationwide fell in July to its lowest level in more than 17 years.

The US Commerce Dept. report shows that construction of single-family homes in July fell by 2.9 percent from the previous month to a pace of 641,000. That is the lowest mark since January 1991.

If you are a builder or work in construction this might be considered bad news. If you are trying to sell your home in Tucson or any place else this is good news. You aren’t competing for buyers against New Construction undercutting your asking price and selling a new home for less than you are asking for yours.

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0 Responses to US Housing starts hit a 17 year low

  1. Chris Swenson says:
    August 22, 2008 at 1:02 pm

    You are of course right that over time the lack of new building will help used home sellers. One area I would not like to be selling a used home right now is Saddlebrooke. I have looking there online for a home from Washington State. What Robson the developer is doing without building inventory they may not be able to sell is lower prices to build new exactly what you want. Their prices for new are mucho lower than used unless the used home has an excellent view of the mountains. I don’t know if any other builders in your area are doing the same thing to keep their business going.

    Chris

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