Saratoga Springs, NY – INFO THAT HITS US WHERE WE LIVE, Stay Optimistic
QUOTE OF THE WEEK… “Optimism is essential to achievement and it is also the foundation of courage and true progress.” –Nicholas Murray Butler, American diplomat and educator
Saratoga Springs, NY – INFO THAT HITS US WHERE WE LIVE… It definitely takes guts to remain optimistic in the face of some of the housing data coming at us these days. Last week, for example, we were greeted with a 16.5% drop in Housing Starts for April. It helps to dig into these reports. The dip was mostly due to multi-family starts, which are very volatile month to month, and were down 38.9%. Turns out, single-family starts were off just 2.1%. Taking a long-term view helps even more. Starts overall are up 13.1% versus a year ago, with single-family starts up a healthy 20.8%. So there.
It didn’t take any effort at all to stay optimistic in the face of the April Building Permits report. New building permits rose 14.3% during the month to a 1.02 million annual rate. Permits for single-family homes are now up 27.5% over a year ago, and multi-family permits are up a whopping 50.9%. An analysis of U.S. Department of Housing and Urban Development data revealed that 64% of building permits issued in the first quarter of this year were for single-family homes. And they were at the highest level since Q1 of 2008.
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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