New Home Starts Up! : coferadams.com
According to the Census Bureau and the U.S. Department of Housing and Urban Development, new home starts were up in November, for the first time in three months.
The possibility of a housing shortage next year has been increasing, as new home supply dwindles and the bargains in foreclosures evaporate. September New Home inventory was the lowest it has been since 1968. Our population as a nation has continued to increase, even in the weak economy.
To compound the problem, a foreclosed new home is still counted as a new home for sale, until it is sold or demolished. Consequently, the number of homes for sale may be significantly overstated. Here in the Atlanta – Athens area, there are many foreclosed new homes that are uninhabitable in their current state, some will require a large investment to be able to get a “certificate of occupancy”, and some will have to be demolished.
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