A major bump in the housing market could be a sign that the United States is in full-on recovery. September marked the third straight month improvement in housing with a 15% surge from the previous month to an annual rate of 872,000. Housing Wire Executive Editor Jacob Gaffney breaks down those new numbers on “Starting Point”.
“We are absolutely in a housing recovery,” Gaffney says. “That is a 45% improvement yearly on housing permits. So, the trend of housing starts, new homes built, is going to continue.” Still, Gaffney says, these numbers are lower than in 2006. Gaffney affirms Romans’ assessment that “we would have to double or triple housing starts from here to be healthy.”