As President of L&T Development, LLC, in Houston, Jonathan Hillert leads the organization in the design and construction of custom single-family homes. With more than two decades of experience in the real estate industry as an architect, developer, and builder, Jonathan Hillert has completed many multimillion-dollar projects through their full lifecycles. He regularly monitors industry developments and economic indicators such as housing starts.
On an annualized basis, new home construction declined in May 2012, a drop that one source attributes to a decrease in the number of apartments being built. However, builders requested a greater number of permits for new home construction as compared with prior months. The number of permits requested, adjusted to an annual rate, rose to the highest level since September 2008. Permits specifically for single-family homes increased to the greatest number since March 2010.
Overall, the rate for permits requested and new home sites remains roughly half of what economists would like to see for a “healthy” recovery. Still, the increases indicate a gradual improvement in housing starts.