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This Chart of New Home Construction Looks Surprisingly Good Despite Biggest Hit in 40 Years

Thursday, April 16, 2020

While the March residential construction report from the U.S Census Bureau is grim, one can find a small glimmer of optimism in the fact that, while housing starts fell off a cliff, there was much less damage done to permits. Perhaps this means builders are envisioning a pause in construction rather than a total collapse. Robert Dietz, an economist with the National Association of Home Builders (NAHB) points out that, despite the mitigation efforts to control spread of the COVID-19 virus, construction can continue in a majority of states, "as home building is deemed an essential business activity. We estimate that approximately 90% of single-family units under construction are located in 'essential' states and 80% of apartment units are located in such states."

 

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Linden was very professional, knowledgeable, efficient, patient and personable. All of these qualities played an important part of processing and closing the loan. Linden was great through the whole process of working with me, to working with the real estate company, and other offices involved. I know the seller’s real estate agent was rude and hard to work with at times. It was unfortunate that Linden had to deal with it but he handled the situation professionally. Also, I was gone 95% of the time traveling for work while buying the home. Linden was great about working with me while I was away and helped keep things moving and organized. It was greatly appreciated.
Victoris S.