14 West Hawaii Real Estate | April 13, 2016 NSingle-family housing starts reach highest level since 2007 ationwide housing starts rose 5.2 percent to a seasonally adjusted annual rate of 1.178 million units in February, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Single-family production increased 7.2 percent to 822,000 units—its highest level since “This month’s report is consistent with positive builder sentiment and other economic indicators showing that the housing market continues to recover at a gradual pace,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. November 2007—while multifamily starts remained virtually unchanged, inching up 0.8 percent to 356,000 units. “This month’s report is consistent with positive builder sentiment and other economic indicators showing that the housing market continues to recover at a gradual pace,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. “February’s single-family gains indicate that this sector is strengthening in line with our forecast,” said NAHB Chief Economist David Crowe. “As the U.S. economy firms, job creation continues and mortgage interest rates remain low, we should see further growth in housing production moving forward.” Combined single- and multifamily starts rose in three of the four regions in February, with the West, Midwest and South posting respective gains of 26.1 percent, 19.9 percent and 7.1 percent. The Northeast registered a 51.3 percent loss. A decline in the volatile multifamily sector pushed overall permit issuance down 3.1 percent in February. Multifamily permits fell 8.4 percent to a rate of 436,000 while single-family permits ticked up 0.4 percent to 731,000. Regionally, permits increased in the Northeast by 40.4 percent. The Midwest, West and South registered respective permit losses of 11.4 percent, 7.2 percent and 4.4 percent. Best Choice in Construction, Corp. Pressure Washing • Excavations • New Construction Remodel • Extensions • Management • Home Services Concrete Works • Masonry • CMU Block • Stone Works Purchase, Refi nance, and Reverse Mortgage Options We will professionally NMLS #217406 PHONE: (808) 327-0404 BARBARA A. WELSH Cell: (808) 960-3457 barbara@apexmortgagehawaii.com apexmortgagehawaii.com Mortgage Broker/Owner NMLS #224003 76-6225 Kuakini Hwy. C-106 Kailua-Kona, Hawaii 96740 manage your Kona or Kohala property as a vacation rental, long term rental, or provide home check services. Long Term Rentals: www.KCPMrentals.com 329-2140 Vacation Rentals: www.KonaCoastVacations.com Toll Free: 1-877-322-2407 Kona Real Estate Management Property management of long term rentals and home check services. A small but professional father-daughter run company that are both licensed brokers and treat your property like their own. Joseph A. Garcia Christina Sotelo 808-329-3121 BIC BA Specializing in nearly EVERYTHING! FREE CONSULTATION 808-938-6374 Lic BC# 27527 Email: BestChoiceInConstruction@msn.com PAINTING Rumley Contruction, LLC Specializing in Hawaii Customer Service Since 1978 FREE ESTIMATES *Non Smoking Crew* Remodeling and Painting Office 808-937-4170 • Mobile 808-896-4434 rumleyconstruction@yahoo.com More news, more savings, more often. GET MORE ONLY IN 329-2644 westhawaiitoday.com
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