U S Home-Builder Confidence Drops in January morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
U.S. Housing Starts Unexpectedly Jump, Building Permits Spike To 14-Year High
WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Thursday showed new residential construction in the U.S. unexpectedly increased in the month of November.
The Commerce Department said housing starts jumped by 1.2 percent to an annual rate of 1.547 million in November from a revised October rate of 1.528 million.
Economists had expected housing starts to come in unchanged compared to the 1.530 million originally reported for the previous month.
With the unexpected increase, housing starts reached their highest annual rate since hitting 1.567 million in February.
Multi-family housing starts led the way higher, surging up by 4.0 percent to a rate of 361,000, while single-family housing starts edged up by 0.4 percent to a rate of 1.186 million.
Indicators cool as COVID-19 cases climb bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.
Provided by Dow Jones By Xavier Fontdegloria Home-builder confidence in the U.S. decreased in December from an all-time high, breaking a seven-month streak of gains, according to a measure from the National Association of Home Builders. Here are the report s main takeaways: The association s housing market index, which gauges the single-family housing market, fell to 86 in December, down four points from November level of 90. A number over 50 indicates that more builders view conditions as good than poor. The reading is roughly in line with economists forecasts from The Wall Street Journal poll, which estimated the index to decline to 88.
U.S. Homebuilder Confidence Pulls Back More Than Expected In December
WASHINGTON (dpa-AFX) - After reporting homebuilder confidence at a record high in the previous month, the National Association of Home Builders released a report on Wednesday showing confidence pulled back by more than expected in the month of December.
The report said the NAHB Housing Market Index slid to 86 in December after climbing to 90 in November. Economists had expected the index to dip to 88.
Despite the pullback, the NAHB noted the housing market index was still at the second-highest reading in the history of the series. Housing demand is strong entering 2021, however the coming year will see housing affordability challenges as inventory remains low and construction costs are rising, said NAHB Chairman Chuck Fowke.