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US New Construcion: It's up!

Blog by Century 21 Amos Realty | January 22nd, 2013

US new housing is up...which is a great sign for BC as it will aid in the economic growth of BC! Let's keep it going.

For more information please see below.

US Housing Starts - January 17, 2013

US housing starts continued to accelerate in December, surging 12.1 per cent to 954,000 units at a seasonally adjusted annual rate (SAAR), the fastest pace of new home construction since June 2008. Building permit data, a proxy for future housing starts, edged higher as well to 903,000 (SAAR).

Surging US housing starts suggest that residential investment provided a significant contribution to US economic growth for the first time since 2005. This trend, if sustained, bodes well for BC economic growth, and in particular BC lumber exports in 2013. 

For more information, please contact: 
Cameron Muir Brendon Ogmundson
Chief Economist Economist
Direct: 604.742.2780 Direct: 604.742.2796
Mobile: 778.229.1884 Mobile: 604.505.6793
Email: cmuir@bcrea.bc.ca
Email: bogmundson@bcrea.bc.ca