Total housing starts for
December 2007 were at a seasonally adjusted
1,006,000 units, the lowest rate in 27 years,
according to the U.S. Commerce Department.
This is 14.2 percent below the November 2007
figure of 1,173,000 units and 38.2 percent below
the December 2006 rate of 1,629,000 units.
The overall National Association of Home
Builders/Wells Fargo Housing Market Index (HMI)
rose one point to 19 from a downwardly revised
December reading of 18, the lowest rate in more
than 12 years. The index gauging current sales
conditions remained unchanged at 19, while the
index gauging sales expectations for the next
six months rose two points to 28. The index
gauging traffic of prospective buyers rose one
point to 14.
(Reprint
from
Hardwood Floors E-News,
January 21, 2008
Issue: 333)
