The housing market’s moderate recovery may be picking up intensity in the coming months, according to a recent report from Fitch Ratings, who reported that single-family and multifamily U.S. housing starts posted strong March numbers.

In March, single-family starts were up 28.7% year-over-year at 619,000, largely in line with expectations, said Fitch in a press release. 

March’s total starts were 1.036 million, up 7% compared to February and increased 46.7% year-over-year. The multifamily component contributed largely to the total number of starts.

Just in 2013, total starts are up 36% so far, while single-family starts are 28.1% higher than this point in 2012. 

Fitch notes that this spike in overall activity is encouraging to homebuilders, which gained market share last year and are poised to follow suit in 2013. 

What’s more, ‘still-attractive home prices, low mortgage rates and a rise in nominal incomes are resulting in superior affordability and valuations,’ said Robert Curran, managing director and lead homebuilding analyst. 

Even so, housing is still treading in unsteady waters for a number of reasons. Curran notes that demand will continue to be tempered by widespread negative equity, challenging qualification standards, shortages of lots and excess supply due to foreclosures in specific markets.


Most Popular Articles

Realtors expect these to be the 10 hottest housing markets for the next 3-5 years

Here are the 10 housing markets that the National Association of Realtors expects to the hottest in the nation in the next three to five years.

Dec 11, 2019 By

Latest Articles

Gateway First Bank makes two key hires

Gateway First Bank made back-to-back announcements this week regarding two key hires. The bank welcomed Joell Maddox as director of treasury services and Thomas Ramm joined as chief investment officer.

Dec 12, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please