The single-family housing sector is showing signs of improvement, while the multifamily sector seems to be slowing, according to Auction.com Research. The firm’s senior principal and economist Peter Muoio, Ph.D., reports that the Census Bureau’s August housing starts data shows that multifamily starts decreased from July, while single-family starts have remained steady since 2009.
Muoio says that total starts measured a seasonally adjusted annual rate of 891,000, just 0.9% above July’s downwardly revised estimate. “Total housing starts had been growing, albeit slowly, during 2011 and 2012, but hit a snag earlier in 2013 as the national economic recovery slowed and interest rates rose.”
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