On a national level, the relationship between building permits and foreclosure starts resembled that of a seesaw in the first quarter, with an equal but opposite rise and fall, but in some markets, both permits and foreclosures are on the rise, according to a report from RealtyTrac.
After analyzing data from HUD, the online foreclosure marketplace found single-family building permits increased 27 percent year-over-year in the first quarter to the highest level in five years, while foreclosure starts fell 27 percent during the same time period to the lowest level since the second quarter of 2006.
Meanwhile, multifamily building permits trended upward, increasing overall by 23 percent. Overall, single-family homes accounted for 64 percent of total permits. Read more ....
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