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Housing Starts Reach Post-Recession High in May as Permits Soften

Housing Starts Reach Post-Recession High in May as Permits Soften

In this recent article from the National Association of Home Builders, housing starts reached a post-recession high in May. Housing starts rose 5% to an adjusted annual rate of 1.35 million units - the highest since July 2007. Permits have dropped however, pointing to a decrease in future housing activity. Continue reading the full article below.

Housing Starts Reach Post-Recession High in May as Permits Soften

(NAHB), Total housing starts rose 5 percent in May to a seasonally adjusted annual rate of 1.35 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This is the highest housing starts report since July 2007.

While housing production numbers rose, overall permits — which are a sign of future housing production activity — dropped 4.6 percent to 1.3 million units in May. Single-family permits fell 2.2 percent to 844,000 while multifamily permits fell 8.7 percent to 457,000.

“Ongoing job creation, positive demographics and tight existing home inventory should spur more single-family production in the months ahead,” said NAHB Chief Economist Robert Dietz. “However, the softening of single-family permits is consistent with our reports showing that builders are concerned over mounting construction costs, including the highly elevated prices of softwood lumber.”

The May reading of 1.35 million is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts rose 3.9 percent to 936,000 — the second highest reading since the Great Recession. Meanwhile, the multifamily sector — which includes apartment buildings and condos — rose 7.5 percent to 414,000 units.

Year-to-date, single-family and multifamily production are respectively 9.8 percent and 13.6 percent higher than their levels over the same period last year. The year-to-date metric can help compare performance data over a specific time period and show growth trends.

“We should see builders continue to increase production to meet growing consumer demand even as they grapple with stubborn supply-side constraints, particularly rising lumber costs,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La.

Regionally, the Midwest led the nation with a 62.2 percent increase in combined single- and multifamily housing starts. Starts fell 0.9 percent in the South, 4.1 percent in the West and 15 percent in the Northeast.

Looking at regional permit data, permits rose 42.1 percent in the Northeast and 7.2 percent in the Midwest. They fell 4.6 percent in the West and 13.9 percent in the South.

3 Bedroom Townhouse Floor Plans for Sale

3 Bedroom Townhouse Floor Plans for Sale

If you're in the market for 3 bedroom townhouse floor plans for sale be sure to check out this beautiful 3 story townhouse floor plan. It features 3 bedrooms, 4 bathrooms and a spacious 2 car garage.

3 Bedroom Townhouse Floor Plans for Sale

The main level of this townhouse floor plan is where you'll find the 2 car garage and 3rd bedroom space. This is a great area for older kids or a spacious guest suite for the in-laws or out of town guests. The bedroom is large with a very generous walk-in closet. The bathroom includes a walk-in shower for ease and accessibility. 

Head up the stairs to the second floor of this townhouse floor plan to see the open living area - perfect for those who love to entertain. The living room is the perfect place to have large parties or smaller get-togethers. There's plenty of light and the fireplace provides a cozy setting the lovely room. The kitchen is well-designed with ample work space and storage space. The powder room is located by the main stairway for easy access.

The third floor of this beautiful townhouse floor plan is where you'll find the second bedroom and the master bedroom suite. The master bedroom is large with 10ft tiered ceiling and ample windows for natural light to flood in. The master bath includes a walk-ins shower, soaking tub and private toilet area. The double sink vanity is convenient and provides plenty of storage and organization. The walk-in closet provides additional storage and organization. The second bedroom is spacious with private bath - a great choice for a nursery. 

The roof deck of this home is another great area for entertaining. Show off your celestial knowledge or take in the view of the neighborhood on the roof deck.

This townhome plan has 2402 square ft. of living space. This townhouse plan design has a width of 25'-10" and a depth of 37'-0". For more information on this townhome plan and floor plans please call 713 522 2724 or

E-mail us.
  • LEVEL ONE: 454
  • LEVEL TWO: 918
  • LEVEL THREE: 938
  • ROOF LEVEL: 92
  • TOTAL LIVING: 2402
  • TOTAL COVERED: 3095

     

    CALL 713 522 2724 or

  • E-mail us.

    click here for more information on Townhouse Plans.
    Preston Wood and Associates is a member of the "American Institute of Building Design." The "AIBD" is a national organization with chapters in every major U.S. city including Houston, Atlanta, Albuquerque, Austin, Dallas, Raleigh-Durham and Washington, DC.

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