Information released in August on housing starts shows that they are up more than 15.6 percent, and according to a Metrostudy report, some of the most beaten-down markets are now doing better. In Las Vegas, for example, starts of detached single-family homes were up 16 percent from Q2 2013 to Q2 2014, and Phoenix showed a 12.3 percent increase. The south, hard-hit with the housing bubble burst, showed gains in the Charlotte, North Carolina, Atlanta, Texas and South Florida markets. Single-family housing starts in Chicago were up 87 percent quarter over quarter, and up 30 percent year over year. Naples, Florida showed double-digit gains, both quarterly and annually.
Typically, data on housing starts measures by total volume. But Metrostudy compiles its information in percent change, which allows us to see trends of improvement in smaller markets.
Check out the chart from Metrostudy below on the top 10 markets for start growth. Click here to learn more about the recent trends in new residential construction.