June Housing Starts Rise to Highest Level Since 2008

first_imgJune Housing Starts Rise to Highest Level Since 2008 in Data, Government, Origination Share Housing starts in June soared to their highest level since October 2008, surging 6.9 percent to 760,000, the “”Census Bureau””:http://www.census.gov/ and “”HUD””:http://portal.hud.gov/hudportal/HUD reported jointly Wednesday.[IMAGE]Housing permits dropped 3.7 percent to 755,000 giving back half of May’s gain.At the same time, permits for May were revised up to 784,000 from the originally reported 780,000 and housing starts were revised up for both April and May, to 747,000 and 711,000 respectively from 744,000 and 708,000.Economists surveyed by Bloomberg expected 745,000 starts and 775,000 permits in JuneTotal housing completions in June rose to 622,000, a 2.6 percent increase from May’s upwardly revised 606,000.Even with the decline in permits, the housing data point to steadily improving residential construction activity. Starts have averaged 727,000 in the first six months of 2012 compared with 578,000 in the first six months of 2011, a 25.8 percent jump. For all of 2012 starts averaged 612,000 per month.Permits too have surged: an average of 737,000 per month in the first six months of this year, up 25.3 percent from the average of 588,000 for the same period last year.Completions too are up, averaging 599,000 for the first six months of this year, 5.8 percent[COLUMN_BREAK]of the 566,000 for the first six months of 2011.Single-family activity led the increase in starts, up 4.7 percent in June to 539,000 ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the highest level since April 2010. Single-family starts have increased for four straight months and seven times in the last nine months.Multi-family (five or more units) activity accounted for most of the drop in permits, down 31,000 from May while permits for single family homes increased by 3,000. (The balance of the 29,000 month-month decline was a dip in permits for 2-4 unit homes.)Of the housing completions, builders completed 470,000 single-family homes in June, a 1.3 percent increase from the 464,000 completed in May, compared with 369,000 new home sales reported for May. With the month-over-month gain, total starts in June are up 23.6 percent from June 2011, the tenth straight month of year-over-year improvement. Permits, despite the month-over-month decline, are up 19.3 percent from year earlier activity, the fourteenth straight month of year-over-year gains. Total completions in June were up 7.2 percent from last year.The census data covered the same month for which the “”National Association of Home Builders””:http://www.nahb.com/ reported builder confidence ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô measured by the Housing Market Index ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô rose to 29 (out of 100) from 28. Any HMI reading below 50 is considered to signal a contraction. Builder confidence for July as reported Tuesday by NAHB rose to 35, the highest level since March 2007.The national increase in starts ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 49,000 ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô was led by a gain of 59,000 in the West and 14,000 in the Northeast, offsetting declines of 16,000 in the South and 8,000 in the Midwest.Permits fell month-over-month in three of the four Census regions, improving only in the West where filings rose 5,000 to 180,000. Permits were flat in the Northeast, fell 33,000 in the South and 1,000 in the Midwest.center_img Agents & Brokers Attorneys & Title Companies Census Bureau Homebuilders Housing Permits Housing Starts HUD Investors Lenders & Servicers Service Providers 2012-07-18 Mark Lieberman July 18, 2012 404 Views last_img read more

Go back to the enewsletter Nobu Hotels has arrived

first_imgGo back to the enewsletterNobu Hotels has arrived in Mexico with the opening this week of Nobu Hotel Los Cabos. Perched beachfront on the southernmost tip of the Baja Peninsula, Nobu Hotel Los Cabos features 200 guestrooms and suites that blend contemporary Japanese minimalism with locally-sourced Mexican materials and natural finishes.The property is home to a luxurious spa with Natura Bissé products and, what all Nobu Hotels must have: a spectacular Nobu Restaurant and Bar with ocean views, making this the third Nobu restaurant in Mexico.Custom-made furniture, wood-soaking tubs, shoji-inspired closet doors and Japanese lanterns all reflect Japanese-Mexican fusion at its finest.The foundation of Nobu Hotels is deeply rooted in creating memories around the enjoyment of exceptional food; world-famous Japanese cuisine married with seasonal ingredients and the mastery of Chef Nobu. Indulge in Nobu’s signature dishes, from rock shrimp tempura and miso black cod to yellowtail sashimi with sliced jalapeno peppers. The property will also house a Malibu Farm restaurant, serving up simple, farm-to-table dining that is fresh, organic and locally sourced when possible.Opening special rates are priced at approximately US$465 per night.Founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, with operations spanning five continents, the Nobu brand thrives in the world’s capitals as the ultimate destination lifestyle experience. The first Nobu Hotel opened in 2013 as a boutique hotel within Caesars Palace Las Vegas, Nobu Hotel City of Dreams Manila opened in 2014, Nobu Hotel Miami Beach in 2016 and the Nobu Ryokan Malibu, Nobu Hotel London Shoreditch, Nobu Hotel Ibiza Bay and Nobu Hotel Palo Alto opened in 2017 and Nobu Hotel Marbella opened in 2018. Also set to open in 2019 are properties in Barcelona and Chicago, with Warsaw recently announced for 2020.Go back to the enewsletterlast_img read more