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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months
Posted by:
Homes Sales
()
Date: August 20, 2014 09:54AM
WASHINGTON (AP) — U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines.
Construction increased 15.7 percent in July to a seasonally adjusted annual rate of 1.09 million homes, the Commerce Department reported Tuesday. That was the fastest pace since November and followed declines of 4 percent in June and 7.4 percent in May.
Applications for building permits, considered a good sign of future activity, also showed strength in July, advancing 8.1 percent to an annual rate of 1.05 million, after declines of 3.1 percent in June and 5.1 percent in May.
The July rebound reflected strength in single-family home construction, which rose 8.3 percent, and in apartment construction, which was up 33 percent.
The strength in July was led by a 44 percent rise in construction starts in the Northeast. Housing construction was up 29 percent in the South, recovering from a 26.8 percent plunge the month before blamed in part on heavy rains in that part of the country.
Construction increased 15.7 percent in July to a seasonally adjusted annual rate of 1.09 million homes, the Commerce Department reported Tuesday. That was the fastest pace since November and followed declines of 4 percent in June and 7.4 percent in May.
Applications for building permits, considered a good sign of future activity, also showed strength in July, advancing 8.1 percent to an annual rate of 1.05 million, after declines of 3.1 percent in June and 5.1 percent in May.
The July rebound reflected strength in single-family home construction, which rose 8.3 percent, and in apartment construction, which was up 33 percent.
The strength in July was led by a 44 percent rise in construction starts in the Northeast. Housing construction was up 29 percent in the South, recovering from a 26.8 percent plunge the month before blamed in part on heavy rains in that part of the country.
Re: US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months
Posted by:
"Construction" =/= "Sales" or
()
Date: August 20, 2014 09:58AM
price per unit. In other words, non story.
Re: US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months
Posted by:
Reality SHOW
()
Date: August 20, 2014 10:02AM
Home construction is a predictor of future sales. It signals investors think the market will rise.
Re: US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months
Posted by:
Not really, no.
()
Date: August 20, 2014 10:10AM
"though the predictive power is not as strong as it is for home sales"
If you even bothered (or are able) to read further, "month to month" can be set by other factors, such as weather. In other words, it's no story, thus respectable researchers (not Faux or PMSNBC) use quarterly data sets.
If you even bothered (or are able) to read further, "month to month" can be set by other factors, such as weather. In other words, it's no story, thus respectable researchers (not Faux or PMSNBC) use quarterly data sets.