Post by account_disabled on Mar 13, 2024 3:27:21 GMT -5
The number of homes started during the month of May in the United States reached the annualized figure of 1.63 million, which represents an increase of 21.7% compared to the previous month and 5.7% more than a year before . as well as the best figure in 13 months, according to data published by the Department of Housing and Urban Development.
Most of the homes under construction corresponded Phone Lead to single-family homes , with a total of 997,000 units, 18.5% more than in April.
For its part, the number of homes completed in May totaled an annualized total of 1,518 million, 9.5% more than in April and 5% more than in May 2022.
On the other hand, the number of construction permits granted was of 1.49 million, 5.2% more than in April, but 12.7% below the figure from a year ago.
New home sales unexpectedly rise to their highest level in more than a year
In the United States, housing has risen 1.6% since its January low, and homebuilder stock prices have performed twice as well as the broader stock market.
Economists expected a bloodbath in US housing prices. In March 2022, when the Federal Reserve began raising interest rates to combat resurgent inflation, the median home value was 41% higher than five years earlier. Prices had recovered from the 2007-09 financial crisis, then soared during the Covid-19 pandemic. Since then, official central bank interest rates have risen by more than three percentage points on average around the world, making mortgages more expensive and slowing the economy.
For their part, new home sales in the US unexpectedly rose in April to the highest level since March 2022 , according to US government data. Specifically, new home purchases rose 4.1% to an annualized rate of 683,000 last month, up from a downwardly revised rate of 656,000 in March.
Most of the homes under construction corresponded Phone Lead to single-family homes , with a total of 997,000 units, 18.5% more than in April.
For its part, the number of homes completed in May totaled an annualized total of 1,518 million, 9.5% more than in April and 5% more than in May 2022.
On the other hand, the number of construction permits granted was of 1.49 million, 5.2% more than in April, but 12.7% below the figure from a year ago.
New home sales unexpectedly rise to their highest level in more than a year
In the United States, housing has risen 1.6% since its January low, and homebuilder stock prices have performed twice as well as the broader stock market.
Economists expected a bloodbath in US housing prices. In March 2022, when the Federal Reserve began raising interest rates to combat resurgent inflation, the median home value was 41% higher than five years earlier. Prices had recovered from the 2007-09 financial crisis, then soared during the Covid-19 pandemic. Since then, official central bank interest rates have risen by more than three percentage points on average around the world, making mortgages more expensive and slowing the economy.
For their part, new home sales in the US unexpectedly rose in April to the highest level since March 2022 , according to US government data. Specifically, new home purchases rose 4.1% to an annualized rate of 683,000 last month, up from a downwardly revised rate of 656,000 in March.