The West continues to lead the nation in new home building, with the state of Utah coming in first at 11.7 new builds per 1,000 people. Idaho was close behind with 11.4 new builds. Such statistics, compiled by the U.S. Census Bureau, placed Colorado in the top five states nationally, with Texas coming in at number six. Two other states, both in the South - Florida and South Carolina - also made it to the top five. New Mexico was near the lower middle half of the list, coming in 32nd, while a handful of states in the East, including Rhode Island, Connecticut, and New York, saw the least activity, with new builds ranging between 1.2 and 2.0 per 1,000 people. The Census figures also pegged building permits in November at 1.4 million, an 11.2% decline over the previous month and 22.4% drop from November of 2021. The Census figures come as the publication Kiplinger is reporting that housing starts in general nationally tumbled toward the end of last year, especially when it comes to single-family homes. The publication adds that builders may be expected to delay projects in the months ahead “amid soaring mortgage rates and elevated costs for building materials.” Overall, residential construction is down 32% since last February when national mortgage rates first began to rise, with the biggest declines recoded in the single-family sector. By Garry Boulard
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