US new housing starts jumped 14.6% in January vs. December, the Census Bureau reported today. But it doesn’t mean much when you look at the big picture for this market. A recovery worthy of the name is still nowhere in sight.
As you look at the numbers closely, you realize that January's Housing starts mostly came from Commercial Buildings. Commercial Housing starts went up by 81.9% year over year. Whereas the housing starts of the majority of the US housing market, single-family homes, plummeted by 19.2%.
And also, the Census Bureau reported that New Building Permits, the bellwether for the future activities, dropped more than 10% last month vs. December.
Considering these numbers, many economists expect US housing market to stall for another year or two at least.Of course, this doesn't bode well for the local Brooklyn NY Market.
Right now, unfortunately, it is common that a house remain unsold for 6-8 months in Brooklyn NY. And many houses are on the market for 10 months or longer.
Having said that, if you really need to sell your house now, we can help you. We are local investors in Brooklyn and We Buy Houses for CASH and Close Super Quick. We Pay Cash and Take your house in an "As Is" condition.
We are NOT realtors. We are NOT interested in listing your house. Therefore there is NO commission you have to pay.
For more information, please visit our website at WeBuyHousesBrooklyn4Cash.com
As you look at the numbers closely, you realize that January's Housing starts mostly came from Commercial Buildings. Commercial Housing starts went up by 81.9% year over year. Whereas the housing starts of the majority of the US housing market, single-family homes, plummeted by 19.2%.
And also, the Census Bureau reported that New Building Permits, the bellwether for the future activities, dropped more than 10% last month vs. December.
Considering these numbers, many economists expect US housing market to stall for another year or two at least.Of course, this doesn't bode well for the local Brooklyn NY Market.
Right now, unfortunately, it is common that a house remain unsold for 6-8 months in Brooklyn NY. And many houses are on the market for 10 months or longer.
Having said that, if you really need to sell your house now, we can help you. We are local investors in Brooklyn and We Buy Houses for CASH and Close Super Quick. We Pay Cash and Take your house in an "As Is" condition.
We are NOT realtors. We are NOT interested in listing your house. Therefore there is NO commission you have to pay.
For more information, please visit our website at WeBuyHousesBrooklyn4Cash.com
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