While the latest federal statistics continue to show an overall increase in new home construction nationally, the greatest growth is centered in the South and West.
According to a survey, produced jointly by the federal Census Bureau and the Department of Housing and Urban Development, of the top twenty metro areas this year issuing home building permits, all twenty were in either the South or West.
Looking at the continued growth of homebuilding in the two areas, Forbes magazine remarks: “That may signify population growth in these areas.”
For 2019 the South has comprised nearly 52 percent of all home building permits nationally, even though only 38.1 percent of the national population lives there.
For the West, meanwhile - comprised 24 percent of all new home building permits - the exact same percentage makes up the region’s share of the national population.
Notes the publication Apartment Guide: there have so far this year been more than 401,000 homebuilding permits issued in the South, while the West has seen just over 196,000 permits.
The two regions were closer in the category of average home price, with the South at $194,000, and $212,000 making up the average unit price in the states of the West.
Overall, according to the Census Bureau and HUD figures, there were more than 1.4 million building permits issued nationally, a healthy improvement over the fewer than 600,000 issued in 2009 during the depth of the Great Recession.
October home building additionally saw a 5 percent increase over September, and a significant 14 percent jump compared with October of 2018.
By Garry Boulard
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