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Macroeconomics  |  August 16, 2012 15:58:00

New U.S. housing construction slowed in July, the number of permits increased


Number of new buildings started in July fell by 8,000 or 1.1% to 746,000 units converted year-round, announced the U.S. Department of Commerce. In June, after the revision has increased by 48 thousand to 754 thousand, the highest level since October 2008. The Authority, however, revised the preliminary data for May (711,000) and June (760,000) down. A majority consensus expected annual pace of 755,000 units and the results lagged behind expectations. Regionally activity slowed in all regions except the U.S. Midwest.

Last year, reached an annual pace of housing construction started only 614 000 units on-year rise of 21.5%. Number of single-family homes started to pull the construction of 4/5, decreased by 35 thousand to four-month low 502,000 units year on year but showed an increase of 73 000. Number of completed single-family homes fell by 28 thousand to 448 thousand and 35 thousand a year.

Leading indicator of housing construction in July exceeded expectations.Number of building permits jumped by 52 thousand, or 6.8% to 812 000 after reduction by 24 thousand to 760 thousand in June. The July figure was the highest since August 2008. Market projections were waiting only 765 000. In comparison, the numbers of building permits in the U.S. increased by 29.5%.



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