Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  April 16, 2013 15:33:46

U.S. - A newly started construction in March rose above expectations

According to statistics from the U.S. Commerce Department in March of newly commenced construction on an annual basis grew by 7% to 1.04 million for new construction. The market, on average, allowed a slight increase to 930 000 new buildings. Larger-than-expected growth is mainly the work of the increased interest in multi-generational housing and rental projects. The range of market estimates ranged from 885 to 985 000 units.
The February figure was preliminarily reported from 917,000 units upwardly revised to 968 in 000th The March figure was the highest since June 2008.

Number of newly issued building permits on an annual basis in March fell by 3.9% to 902,000 units. The market in this respect, allowed to grow to 942,000 units in the overall estimates range from 905 to 990 000 authorizations.

The newly commenced construction on single-family homes in March fell by 4.8% to 619,000 units. For multifamily buildings, including rental housing markets grew by 31% to 417,000 units, the highest since January 2008.

Growth of newly started construction saw 3 of the 4 major U.S. regions, led by a 10.9% growth in the American South.

In 2012, the total begun with the construction of 780,000 new homes, equivalent to annual growth of 28%.
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