Trending the right way.........................

Calculated Risk has the March report on housing starts.  At first glance it looks very positive.  A second glance reveals, unfortunately for us sellers of fabulous single-family building lots, that new multi-family construction is way more prevalent than new single-family construction.  Still, business for the construction industry appears to be on the upswing, which I hope we all agree is a good thing.  If the pace of construction picks up too rapidly expect to see some surprising inflationary pressure on new construction.  Simple supply and demand at work.  The past six years of economic unpleasantness has truly hollowed out the trades and the materials supply.  Gradual growth is probably a good thing.

Projections here of 700,000 single-family starts in 2013 and 1,000,000 in 2014.  Time will tell.