American Land Title Association
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Industry News

Housing Starts Dip Following Record Fourth Quarter

February 19, 2004

Coming off the incredible rate of production that closed out 2003, home builders slowed the pace of housing starts to a seasonally adjusted annual rate of 1.903 million units in January, the Commerce Department reported today. This is 7.9 percent below December’s revised estimate of 2.067 million units, but 4.1 percent above the January 2003 rate and 12 percent above the annual total of 1.848 million for 2003, which was the highest in 26 years.

"Builders have just finished an incredibly strong year and we are starting 2004 at a pace that will keep us on track to match 2003’s record production," said Bobby Rayburn, president of the National Association of Home Builders (NAHB) and a home and apartment builder from Jackson, Miss.

Single-family starts dipped to a seasonally adjusted annual rate of 1.537 million units. This was 8.0 percent below the revised December rate and 1.9 percent above the January 2003 pace.

"The favorable interest rate structure, solid house price performance and improving economic indicators continue to drive the housing market," said NAHB Chief Economist David Seiders. "Although the January rate was lower than in the final months of 2003, it was still exceptionally high."

The pace of multifamily housing starts decreased 3.6 percent from December to a seasonally adjusted rate of 339,000 units and was 21.9 percent above the pace of a year ago.

Construction of new homes and apartments slowed in all regions in January. The Northeast and Midwest, where unusually bad weather had some effect, posted declines of 14.0 percent and 21.0 percent from December’s rate, respectively. The pace of construction in the South and West was down 5.2 percent and 1.0 percent, respectively from December.

For the month, issuance of total building permits was down 2.8 percent from December to a seasonably adjusted rate of 1.899 million units, but 6.9 percent above January 2003. Single-family permit issuance decreased by 2.8 percent and multifamily permits were down 8.7 percent from the December pace.

Source: NAHB

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment