Recently we discussed Home Sales: Best Since 2007; not surprisingly we can now report that, according to the National Association of Realtors (NAR), single-family housing starts reached their highest levels in July 2015 since, you guessed it, 2007. On the other hand, the up-and-down again multi-family market was down in July by nearly 17 percent.
The National Association of Home Builders (NAHB) reported that confidence amongst builders the single-family market continued to be strong, although accessing land labor remains a problem. Moreover, the NAHB attributed the steep July decline in the multi-family market to an abnormally robust June.
Just how confident are builders these days? Just last week, the latest National Association of Home Builders/Wells Fargo Housing Market Index stated that builders are feeling more confident over the new single-family home market than at any time since November 2005.