Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  October 17, 2012 15:45:28

U.S. - newly started construction in September unexpectedly jumped to 4-year maximum and significantly exceeded market expectations


According to statistics from the U.S. Commerce Department in the U.S. in September began construction of 872,000 new homes on an annual basis. This figure is the highest since July 2008 and far exceeded market expectations set on average to grow to 770,000 units in the overall estimates range from 735 to 800 000 units.
The August figure was slightly upwardly revised to 758,000 units compared to the originally announced 750 000
Compared commenced construction in September grew by 34.8%, the highest change from April.

In September, according to statistics in the annual statement issued 894,000 building permits, which exceeded market expectations even the most since July 2008. Market estimated on average at 810,000 total permits estimates range from 780 to 850 000th
eziročně number of building permits rose by 45.1%, which is the most since 1983.

Number of newly launched single-family houses in September rose by 11% to 603,000 units in multi-generational homes including rental housing growth reached 25.1% of the total 269,000 units.

3 of 4 major U.S. regions experienced growth in the number of housing starts in the head with the West and its improvement by 20.1%. A single drop has logged Northeast USA.

In addition to record-low interest mortgages to improve the situation in the real estate sector seems to be partly involved in the fact that the number of households in 2011 grew by 2% to 119.9 million, which was the highest growth in the last 10 years.
The average interest on 30-year mortgages fell last week to 3.39%, which is only slightly above the historical minimum of 3.36% of 4 October.

According to the comments the high number of building permits gives a chance to the sustainable growth of newly started construction in the coming months.
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