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Friday, July 22 2011

WASHINGTON (MarketWatch) - New construction of U.S. houses jumped in June to their highest level in five months, the Commerce Department estimated Tuesday. Starts rose 14.6% in June to a seasonally adjusted 629,000 annualized units, stronger than the 580,000 pace expected by economists surveyed by MarketWatch. This is the highest level of starts since January. Starts of new single-family homes rose by 9.4% to 453,000 in June, while starts of large apartment units surged 31.8%% to 170,000. Building permits, a leading indicator of housing construction, rose 2.5% to a seasonally adjusted annual rate of 624,000. This is the highest level of permits since December

Read the full story:
Housing starts rise 14.6% to five-month high

Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  0 Comments  |  Email
Tuesday, May 18 2010
Housing starts rose 5.8 percent in April to an annual rate of 672,000 units, the highest level since October 2008, the Commerce Department said Tuesday.

Single-family home starts rose 10.2 percent, while multifamily starts declined 18.6 percent, reversing the trend from previous months.

New building permits, a gauge of future activity, declined 11.5 percent to an annual rate of 606,000, the lowest level since October 2009, Commerce also reported.

Source: Reuters News, Lucia Mutikani (05/18/2010)
Posted by: Rolando Trentini AT 02:50 pm   |  Permalink   |  0 Comments  |  Email
Thursday, September 17 2009
Housing starts rose 1.5 percent in August to an annualized rate of 598,000, led by a 25 percent increase in apartment construction, the U.S. Commerce Department announced Thursday.

Single-family starts fell 3 percent to a 479,000 annual rate, the first decline since January. Single-family starts rose 24 percent in the Northeast, 0.9 percent in the Midwest, and fell 2.4 percent in the South. The West was unchanged.

Analysts blamed the expiration of the first-time home buyer tax credit for the decline. “These tax incentives often borrow from future sales and the pickup does not last,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said before the report was announced. “This does not throw the recovery idea into a tailspin, but the housing normalization will come at a slow, measured pace.”
Source: Bloomberg, Bob Willis (09/17/2009)
Posted by: Rolando Trentini AT 02:25 pm   |  Permalink   |  0 Comments  |  Email
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