April's housing production numbers reveal a nearly 40% jump in production of multi-family units. The surge in multi-family units pushed nationwide housing starts above the million unit mark for the month - great news for manufacturers of energy efficient windows and doors as well as the entire building industry.
Newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau indicate that total housing production rose 13.2% for April to a seasonally adjusted annual rate of 1.07 million units. Multi-family units were almost exclusively responsible for the jump in housing starts as single family production held steady.
The jump in multi-family production is moving at its fastest pace since January of 2006. All four regions of the country posted gains in combined single-family and multi-family production with the Midwest leading the way, having increased by an impressive 42.1%. Additionally, building permits rose 8%, often an indicator of future building activity.
On the employment front, construction firms added jobs in 29 states and the District of Columbia over the past month. While still a long way from the employment levels of a decade ago, this is certainly good news. The states with the greatest increase in constructions jobs include Texas (7,500 new jobs), California (7,100 new jobs), and Rhode Island (900 new jobs). It should also be noted that 20 states lost construction jobs, making it clear that this is still a fragile recovery, albeit a wonderful sign. For example, Virginia lost 3,100 jobs and Maine 900 jobs.
The surge in housing starts in Florida and Texas also mean added demand for building products designed to protect you from severe weather conditions. Increased demand for weatherstripping and similar window and door products can be expected to follow suit.
Long term, the soaring production of multi-family apartments suggests that there are more households taking the first step to home ownership. Coupled with the increase in building permits, this surge should pay dividends for some time to come.
Endura Products, Inc. manufactures entry door component systems that improve door construction, door installation and long-term performance in the home. Endura components improve functionality, maximize the seal between the door and the opening, and reduce air and water infiltration.