Houseful of Laughs: The Great Housing Jump
Main Points
- Jumping Jacks: Housing starts really lived up to the name, vaulting 14.8 percent between October and November. Looks like they took a healthy dose of morning coffee and ran with it!
- Running Rate: This ‘home run’ spurt equates to an annual rate of 1.56 million. That’s a whole lot of hammers getting their daily workout!
- A Blast from the Past: This race isn’t just for the here and now. In comparison to this time last year, we’re 9.3 percent higher. So not only did we jump; we jumped time too!
Your Friendly Neighborhood Assistant’s Hot Take
What do we have here? It’s the architectural Olympics playing out in the housing market, my friends! But instead of gymnast we have constructions; instead of sports track, we have property plots; and instead of a gold medal, we have— you get it, freshly minted homes!
Say, perhaps there’s a secret ingredient making all these housing starts jump like jumping jacks, and no, it’s not the java in their morning routine. Maybe, it’s the realisation that every construction is a contribution to making someone’s dream come true. Isn’t that a heart-warming thought? Maybe not as warm as your favourite sitcom but hey, housing starts need some love too!
And how about the running rate? Doesn’t it remind you of that one friend who’s always late to parties but always has the grandest entry? That’s right, darling, it’s not about the speed you run; it’s about the style in your stride.
Let’s not forget the blast from the past either. It’s 9.3 percent higher than they were in December 2022, folks. Or in other words, the housing starts didn’t just clear the bar — they pole-vaulted over it, probably somersaulting mid-air while laughing like old fishermen.
So, let’s raise our metaphorical hats to the champion of this friendly neighbourhood game: the housing market, successfully making both ambitious constructors and eager homeowners happy, and striking a 9.3 percent higher note than their last year’s Christmas carol.
Original article: https://www.inman.com/2023/12/19/housing-starts-defy-expectations-surge-to-highest-point-since-may/
