It’s been a rocky few months, however new home activity in the Midwest continued to show signs of improvement in July. According to the report on New Residential Construction for July 2012 just released by the Commerce Department, new building permits for single-family homes in the Midwest increased in July 2.5 percent from the month before 16.9 percent from a year ago. Housing starts, on the other hand, were down 5.6 percent for the month but was up 12.0 percent from a year ago.
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Highlights from the July 2012 Report for the Midwest Region:
- Building permits issued for single-family residences were at an annual rate of 83,000 homes which is a 2.5 percent increase from the prior month and an increase of 16.9 percent from a year before.
- Housing starts for single-family residences were at an annual rate of 84,000 which is a decrease of 5.6 percent from the prior month and an increase of 12.0 percent from a year before.
- Homes completed were at an annual rate of 88,000 homes, which is an increase of 11.8 percent from the prior month and an increase of 7.6 percent from a year before.
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