Building Permits Overtop 1 Million in October, 2013
Anytime you are dealing with the number 1 million in conjunction with the real estate market, there is going to be a “buzz in the air,” and that was the case for the housing market in October when reports of building permit numbers nationally topped 1 million to land at 1.034 million building permits. A closer examination of the numbers showed that multi-family housing (apartments, condos, and townhomes) permits were the “culprits” for pushing the numbers so high.
The housing recovery has been just like a slow an steady turtle in the race of the tortoise and the hare. Every time a number spikes in regards to real estate, economists are quick to analyze every detail to detect a trace of the fast-paced real estate market that used to exist before the Recession. Members and leaders in the National Association of Home Builders (NAHB) are content with the slow and steady upward movement of the real estate market. If home prices went up too quickly, the homes would be priced out of the market for home buyers already struggling to qualify for a mortgage. If inventory is gobbled up too quickly by new home buyers, then builder would find themselves behind on their tenuous home building efforts because of a shortage of labor from general contractors and sub-contractors. The real estate market seems to know its own pace.
Despite the over 1 million mark made in October, growth for single-family homes rose just under 1% at .8% in October. However, regionally, the amount of building permits issued in the southern region increased by 9.4%. At Bedico Creek Preserve, we are experiencing a “reflection” of these numbers because our subdivision offers what many communities are lacking – builders ready to build and lots ready to break ground. We have developed 6 unique neighborhoods within our community that offer a variety of lot sizes, frontage, and styles. We are constantly adding approved builders to Our Builders, so home buyers can “walk in and buy or build” depending on what it is they would like to do. To find out more information about homes and lots for sale at Bedico Creek, Contact Us at 985-845-4200 or E-mail [email protected].
