SIngle-family Housing Starts Edge Upward
According to the National Association of Home Builders, production of single-family homes rose for a second consecutive month in April, posting a 2.8% gain to 368,000. At the same time, issuance of single-family permits, which can be an indicator of future building activity, rose 3.6% to 373,000 units (SAAR). This edge upward is testament that builders responded to improving conditions for new-home buyers, according to newly released figures by the U.S. Commerce Department. While overall starts fell 12.8% in April to a record-low seasonally adjusted annual rate of 458,000 units, the decline was entirely confined to the multi-family sector, where production fell 42% to 78,000 units (SAAR). Total U.S. permits declined 3.3% from the March rate to 494,000 units (SAAR).

Regional, starts rose in the West region:

Outlook Brightens for Remodeling
The residential remodeling market showed signs of improvement during the first quarter of 2009, with significant growth in all indicators, according to the National Association of Home Builders' Remodeling Market Index (RMI). The national index for major home additions and alterations increased from 19.4 to 32.7 in the first quarter, while minor additions improved from 31.5 to 39.1.

Opportunities in Military Housing
According to the February 2009 edition of Home Channel News, the U.S. military is looking for a few good builders—make that quite a few builders—to help it provide better housing for thousands of enlisted personnel across the country. Billions of dollars have been committed to privatized construction projects, on and off base, during the next few years. The U.S. Air Force currently has 30,372 housing units under construction. The Army has budgeted $37.5 billion for new housing construction between now and 2013. Additional monies have been allocated by the Navy and the Marines.

Private sector builders are also being asked to erect barracks, administrative buildings, dining halls and medical facilities on military bases. Another phase of privatization involves remodeling existing military housing.

Pending Home Sales Rise
According to the National Association of Realtors, pending home sales increased 3.2 percent to 84.6 from a level of 8.2 in February, and is1.1 percent higher than March 2008 when it was 83.7. NAR chief economist, Lawrence Yun, said “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a down payment”.