Helena Talbot's blog - Fixed Mortgage Rates Move Slightly Higher

Housing is on the march once again, particularly in new construction starts which saw a strong upsurge in housing starts in December. Specifically, new construction jumped to a seasonally adjusted annual rate of 954,000 units. That was 12.1% above the November estimate of 851,000 home starts. In addition, the most recent figure was 36.87% higher than the December 2011 level of 697,000 homes.

For comparison purposes, though, the figure was still more than 30% below the average level of housing starts over the past 50 years. Thus, while housing is definitely on the mend, it still has further to go. For the most recent year, as a whole, an estimated 780,000 housing units were started. That was up 28% from the comparable 2011 full-year estimate, keeping in mind that about 1.5 million starts annually are needed to keep up with population growth.

In addition to new starts, privately owned housing units authorized by building permits came in at a seasonally adjusted annual rate of 903,000 homes in December. That metric, too, was up, albeit nominally, from the estimated 900,000 permits issued in November. The year-to-year swing however was dramatic, with a 28.82% increase in building permits overall for 2012.

Housing completions, which have vacillated up and down consistently throughout 2013, also finished the year strong reporting a 13.20% increase at 686,000 completed units, up from 675,000 in December 2011.

Meanwhile, in a rare bit of uniformity, starts were up in every region of the country in December. Specifically, building was higher by 21.4% in the Northeast, where building had earlier been limited by the ravages of Hurricane Sandy. Moreover, starts jumped by 24.7% in the Midwest, by 3.8% in the South, and by 18.7% in the West.

Taken as a whole, there was little not to like in this report, which was materially better than forecast, and should set this sector up for a stellar 2013. The housing data may not be a game changer at this point, but the December increase in building gives us some confidence that the nation’s gross domestic product will in fact rebound higher in 2013.

Helena Talbot's Free iPhone/Android App to search Northern Virginia real estate.  2 easy ways to get the App: Text "Exit9" to 87778 or enterhttp://87778.mobi/Exit9 into your browser.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia. 

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800   www.facebook.com/LoudounCountyConnect  www.twitter.com/ExitAshburn  www.Linkedin.com/in/HelenaTalbot