Single-Family Housing Starts Fade In July
By David Kosmecki
(American Pacific Mortgage)
Sometimes, you need to look deeper than the headlines to get the news that matters. This basic truth's latest example comes from the July Housing Starts data, as published by the U.S. Census Bureau. According to the newspapers, Housing Starts improved last month: US Housing Starts Make Modest Rebound (FT) Housing Starts Rise Slightly (MoneyWatch) Housing Starts Tick Higher In July (MarketWatch) However, these stories are speaking in terms of all housing starts - not just the single-family ones. This is a major point of difference for home buyers in Maple Grove because the most people don't buy the multi-unit homes and apartment buildings that's also a part of the Housing Starts data. The overwhelming majority of buyers buy single-family homes and in July, as in the previous 3 months, t...