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 Data |
| Single-Family Permit Growth |
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| Source: U.S. Census Bureau |
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Data and Analysis
Construction and Real Estate
Single-Family Residential: Construction
April 2008
According to data from the U.S. Census Bureau, declines continued in District single-family permit growth measured year-over-year; permits declined 43.0 percent in February. Weakness in permits was pervasive throughout the District. Louisiana experienced the most modest decline, with permits down 16.4 percent compared with a year earlier.
Census Bureau figures show that housing starts in the South declined on a year-over-year basis during March, showing little change from February's pace, while nationally starts weakened further. Housing starts in the South declined 40.1 percent in March compared with a year earlier following a 42.0 percent decline in February.
According to our informal survey of District homebuilders, new home construction remained below year-ago levels during March. Similar to new home sales, the greatest weakness in new home construction in the region was reported by Georgia builders while Florida builders noted modest improvements. Elsewhere in the District construction activity was little changed. Most District builders reported that inventory moderated compared with a year earlier. The outlook for construction activity moderated somewhat from recent reports. Builders anticipate District construction will remain slightly below year-earlier levels during the next several months.
March 2008
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