Ho Hum, Home Starts Spike In October
Important For The Economy
In his most recent article, Economist Jon Barsanti Jr., states “New home construction is important for the economy. New Home construction creates jobs and retail sales. New homes need new furniture, new appliances, and sometimes new cars for the garage.” Barsanti goes on to say “New Home Starts Spiked to 80,700 units. This is better than the October starts recorded, non-seasonally adjusted, than those recorded during October 2007 through October 2018” [bold emphasis added]
Outpacing The Past 5 Years
If you look closely at the graph above, you’ll notice that 2019 (GREEN) is far outpacing July – October home starts in the years 2014 to 2018. This is encouraging news for every sector of the economy, and demonstrates confidence from home buyers, builders, and consumers.
Jon Barsanti Jr. of ItsTheEconomy.info is an economist who has been publishing articles regarding economics since 2014. He was also a REALTOR® for 15 years. Thanks to Jon Barsanti, Jr. for Home Starts Spike In October