Daily Archives: March 20, 2012

Housing rebound helps Wichita companies

March 20, 20129:56 a.m.

WICHITA — Housing starts nationwide are starting to pick up. In February they were near a three-year high, nationally. According to Bloomberg:

Builders broke ground on 698,000 homes at an annual rate, in line with the median forecast of economists surveyed by Bloomberg News and down 1.1 percent from a January pace that was stronger than previously reported, Commerce Department figures showed today in Washington. Building permits, a proxy for future construction, climbed to the highest level since October 2008.

That’s good news because we have a number of local companies that supply the housing industry nationwide such as Johnson Controls, which makes funaces and air conditioners; Viega, which makes and distributes plumbing fixtures;  and Custom Cupboards, which makes cabinetry.

By Dan Voorhis | Filed under Uncategorized | Comments Off | Share this post

Bad news, good news

March 20, 20129:44 a.m.

The U.S. Commerce Department reports this morning that builders started work on slightly fewer homes in February. Builders broke ground on a seasonally adjusted annual rate of 698,000 homes last month., down 1.1 percent from January.

But builders say they are preparing for what could be the healthiest spring buying season since the housing bubble burst. Many builders are seeing more people express interest in buying a home, leading them to believe 2012 could be a turn-around year for the market. Mortgage rates are hovering near record lows below 4 percent. And home sales started to rise at the end of last year.

Building permits, a gauge of future construction, jumped 5.1 percent in January to the highest level in more than a year.

By Tom Shine | Filed under Uncategorized | Comments Off | Share this post