Sales of newly built, single-family homes in September fell 3.5 percent to 959,000 from a downwardly revised August number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
The economic crisis has worsened rental affordability challenges and put homeowners at risk of foreclosure, widespread calls for racial justice have pointed out sharp disparities in access to decent affordable housing, and a series of powerful hurricanes and raging wildfires have shown how vulnerable the country is to the impacts of climate change.
Single-family starts showed continued growth in September as overall housing production increased 1.9 percent to a seasonally adjusted annual rate of 1.42 million units.
In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September.
In the 20th Annual John T. Dunlop Lecture, rescheduled from the Spring, Michael Maltzan will discuss his work with the Skid Row Housing Trust and what it suggests about the ways in which architecture and other design professions can help address problems of housing affordability and homelessness.
In another indicator that housing continues to lead the economy forward, sales of newly built, single-family homes in August topped the 1 million mark and reached their highest pace since September 2006.
Existing-home sales continued to climb in August, marking three consecutive months of positive sales gains, according to the National Association of Realtors.
In a strong signal that housing is leading the economic recovery, builder confidence in the market for newly-built single-family homes increased five points to hit an all-time high of 83 in September.
Single-family starts showed continued growth in August but overall housing production fell 5.1 percent to a seasonally adjusted annual rate of 1.42 million units due to a double-digit percentage decline in multifamily production.
As homeschooling takes on a new meaning (and new challenges), there might be an opportunity to focus on creating dedicated spaces for kids right at home.
