Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 20, 2012 15:00:14

U.S. - the number of new housing starts in October grew at 4-year maximum

Number of newly commenced construction in October in the U.S. grew by 3.6% month on month to 894,000 units in annual terms, which is the highest since June 2008. The September data was revised downwards from 872,000 to 863,000 units. Market for October estimated an average decline to approximately 840,000 units in total estimates range from 780 to 873 000th This improvement is mainly due to record low mortgage rates and greater faith investors and households in the fact that the U.S. real estate market has reached its bottom.

The number of building permits issued in October decreased by 2.7% to 866,000 units. Market counted 864 000th

Number of newly launched single-family homes fell by 0.2% to 594,000 units. The multigenerational houses, including rental housing was up by 11.9% to 300,000 units.

Growth in the number of housing starts recorded 2 of the 4 major U.S. regions, led by a 17% increase in the West of the United States. Midwest notched growth of 8.9%. Northeast decreased by 6.5% and -2.5% South scored.

Hurricane Sandy in October published the results only marginally, but it is assumed that the greater the impact will be recorded to the fullest in the November data.
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