Following up on Tuesday’s news about the big increase in housing starts around the country, Metrostudy did some digging deeper into homebuilder activity metrics to highlight the markets with the largest increases in new home production.
According to the U.S. Census Bureau, housing starts shot up 20.2% in April to a seasonally adjusted annual rate of 1.14 million, hitting the fastest rate since late 2007.
Metrostudy’s new data, covering the first quarter 2015, adds further evidence that demand for new homes is gradually recovering, while developers and builders are investing billions to get ready for increased home production, with homesite development increasing 21.5% compared to a year ago.
The markets that are increasing home production the most include Northern California, Reno, Las Vegas, Naples-Ft. Myers, Tampa, Atlanta and Denver-Colorado Springs.
