Early establishment of houses falling in the U.S.

Home construction of U.S. homes fell in February for the third consecutive month, but a rebound in permits for new buildings provided some hope for the housing market, which struggles to emerge from a period of weakness.

The Commerce Department said housing starts fell 0.2 % houses in February to a seasonally adjusted 907,000 units figure .

That came after a revised decline to 11.2 % in January and suggested that there is an underlying weakness in the real estate business , in addition to the pressure by the unusually cold weather.

It was previously reported that housing starts January home had fallen 16%.

Economists predicted that initially buildings would rise at a rate of 910,000 units last month.

Construction starts of homes plummeted 37.5 % in the Northeast in February , indicating that the climate affected the real estate business.

It was the biggest drop in more than two years and made the beginnings of residential buildings in the northeast reached its lowest level since November 2012.

The figure also fell by 5.5 % in the West, which was not affected by the severe weather. The climatic explanation for the weak housing data is refuted by a rise of 7.3 % at the beginning of construction of houses in the south and a jump of 34.5 % in the central region of the United States.

The house began to lose momentum in the last summer , with sales down after a rise in mortgage rates.

Although mortgage rates have come down a bit and the weather starts to improve , it will probably take some time to recover its strength housing due to high prices and a shortage of homes on the market .

A report released Monday showed that builders were more optimistic in March, although pessimistic about sales in the next six months.

A builders also concerned about the shortage of land and skilled labor , in addition to the high prices of construction materials.

Construction starts for single family homes, the largest segment of the market, rose 0.3 % to a rate of 583,000 units last month.

The beginnings for the volatile multifamily segment fell 1.2 % to a rate of 324,000 units.

Permits to build homes rose 7.7 % in February, at a rate of 1.02 million . Permits for single-family homes fell 1.8 % , while for the multifamily industry jumped 24.3 %.

Advertisements

About edongzkisiete

I'm an online marketer for Dominor
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s