November housing starts increase significantly compared to 2011

Can we officially celebrate a recovery?

I bet big builders like Lennar Corp., Fort Worth-based D.R. Horton, and Pulte Homes are breathing a collective sigh of relief. According to a report from the U.S. Census Bureau and U.S. Department of Housing and Urban Development, housing starts are up — way up, as a matter of fact — from November 2011.

According to the report, privately owned housing starts are up 21.6% year-over-year for November 2012. Housing completions for November are up 16.1% over last year, too.

Pair that with a very optimistic column from The Dallas Morning News business writer Will Deener. Housing stocks for some of the nation’s largest builders have grown by leaps and bounds over 2012.

“Shares of D.R. Horton, Toll Brothers Inc., Lennar Corp. and other housing stocks are now up more than 50% since the year began,” Deener writes in his December 16 column. “These stocks rallied in anticipation of better times in the sector, and that time has apparently arrived. By almost every measure, the housing sector is finally returning to the land of the living.”

We’re hearing that sales of pre-owned homes in many areas of Dallas are up, and that several enclaves are actually seeing home sell for over list price!

So what do you think, is it finally time to tip a glass and celebrate a recovering housing market?