Recent, positive real estate indicators were in the news. Also, they shed light on real estate market trends Q4 2016. These indicators include great highs in housing starts. In fact, the article dubbed, “US housing starts surge to 9-year high in October” focuses on housing starts. It focuses on these for single and multi family homes. It states that activity picked up a lot in October. In addition, it’s expected to continue in Q4 2016.
Real Estate Market Trends Q4 2016 – October 9-Year High in Housing Starts
Some good news in the nation’s real estate market comes on the heels of some good news trending in the stock market. It sends some positive ripples through the state of the economy. In fact, it makes for some outlook in great economic growth on the horizon. A projection like this fosters plenty of expectation. In fact, let’s break down some of the trends and stats in the article for clarity.
In October this year, housing groundbreaking was up 25.5 percent. That’s the highest level since way back in August, 2007. Also, we’re told the units of housing starts equal 1.32 million. They certainly suggest builders have been busy. In addition, real estate market trends Q4 2016 point to more of the same. In fact, the current 25.5 percent increase in groundbreaking already reflects the biggest percent increase since July 1982.
Real Estate Market Trends Q4 2016 – Single Family and Multi Family
Many of us want to know what the specifics might be for single family. Also, many want to know the specifics for multi family. For example, investors and people seeking low-maintenance property have their eye on multi family. So, what do these real estate market trends Q4 2016 indicate?
Already, October single family starts jumped 10.7 percent. That was a record high since October 2007. In fact, that’s a great trend starting Q4. Since single family makes up the bulk of residential starts, it’s key.
When it comes to multi family, housing starts rose a whopping 68.8 percent. That was also in October. We’re told it equates to 454,000. In fact, that equates to a lot of progress.
In conclusion, these facts and figures apply not just to one region of the domestic real estate market. They apply to all four. That stokes the fire of optimism for real estate professionals across the country. It does the same for statewide buyers and sellers.