Although February and March were weak, April was strong – and January through April 2015 single family housing starts are now running 7.6% ahead of January through April 2014.
That’s good – and matches the increased sales the public builders reported in their first quarter results.
Starts are up about 50% from their bottom in 2011/2012 – enough to get them back above what had otherwise been the low of the last 46 years. (See chart below)
Both NAHB and Metrostudy predicted approximately a 15% increase in single family starts in 2015 compared to 2014. An unscientific survey I conducted in late 2014 of builders, developers, and suppliers in the Jacksonville MSA came up with a similar prediction for the Jacksonville MSA. (My subjects – on average – predicted an average increase in Jacksonville over 2014 of approximately 15%).
So there may be even more growth to come in single family starts in 2015.
Click image below to enlarge.