{"id":37363,"date":"2015-10-20T10:56:14","date_gmt":"2015-10-20T17:56:14","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=37363"},"modified":"2020-10-06T17:08:26","modified_gmt":"2020-10-07T00:08:26","slug":"its-almost-winter-but-homebuilders-see-blue-skies-why","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/its-almost-winter-but-homebuilders-see-blue-skies-why\/","title":{"rendered":"It's Almost Winter, But Homebuilders See Blue Skies. Why?"},"content":{"rendered":"

Homebuilders have a <\/span>sunny outlook<\/span><\/a> as we leave summer behind and winter bears down. Why? Today we learned that construction of single-family homes is picking up, but just barely. Building permits are down.<\/span>
\nBuilders might be a glass-half-full crew, but we\u2019ll take this small increase in new construction as good news, too. It\u2019s at least a step in the right direction, especially as we enter the seasonal slowdown.<\/span>
\nEvery month, the <\/span>Census Bureau <\/span><\/a>tells us how many houses and apartments are being built. More construction, especially on single-family homes, is generally good news because it means more jobs, more consumer spending, better economic growth and more options for house hunters.<\/span>
\nLast month, residential construction jumped <\/span>6.5 percent to a rate of 1.2 million units a year, the second-highest level since 2007. But that was mostly apartments. Improvement in single-family construction was almost imperceptible, at 0.3 percent.<\/span>
\n

\"housing<\/a>
Seasonally adjusted annual rate; Census Bureau<\/figcaption><\/figure>
\nWorse, fewer builders applied for permits, suggesting that home construction might slow in the coming months. <\/span>
\n\u201cHome construction continues to improve but there is still a long way to go before we get back to a normal housing market,\u201d said <\/span>Joel Naroff<\/span><\/a>, president of Naroff Economic Advisors Inc. \u201cWith millennials starting to form households at a growing pace, the demand for shelter should only increase.\u201d<\/span>
\nWhen there aren\u2019t enough new homes, things can get nutty. Last month, hopeful homebuyers in McKinney, Texas, <\/span>camped out overnight<\/span><\/a> to get a chance at a few pre-construction lots. <\/span>
\nYesterday, homebuilders reported their highest level of optimism in a decade, with the <\/span>NAHB\/Wells Fargo Housing Market Index<\/span><\/a> jumping three points (a lot). That\u2019s good, because there aren\u2019t enough houses for all the buyers out there, and that\u2019s pushing up prices. Watch this space on Thursday, when we\u2019ll <\/span>report<\/span><\/a> September sales and prices.<\/span>
\nThinking about buying a newly constructed home? Check out our 10 tips for getting a better deal when buying new construction<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Homebuilders have a sunny outlook as we head into winter. Why? Today we learned that construction of single-family homes is picking up, but just barely, and building permits are down. <\/p>\n","protected":false},"author":13309,"featured_media":37365,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[32],"dashboard":[],"coauthors":[],"class_list":["post-37363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-housing-market-tracker"],"acf":[],"yoast_head":"\nIt's Almost Winter but Homebuilders See Blue Skies. 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